CanadianSME Small Business Magazine - July 2023 Edition

Greetings and a warm welcome to the July edition of the CanadianSME Small Business Magazine. We're thrilled to present this comprehensive issue, with our special focus on "Success for Startups." Designed to provide an array of knowledge and counsel for our diverse entrepreneurial audience, this edition aims to empower the small and medium-sized businesses that form the backbone of our economy.

Our dedicated team works diligently to fulfill our mission of presenting exclusive interviews and top business insights from reputable industry experts, helping you stay current on all the latest business trends.

This July, get ready to explore the treasure trove of articles brimming with the knowledge of a broad spectrum of critical topics. From Cloud Computing for SMBs to considerations for businesses in a higher interest rate environment, from the benefits of Open Banking in Canada to cybersecurity concerns, we have insights and advice from industry leaders such as Diane Amato of RBC, Michael Cascone from Xero, Chetan Tewari from Cisco, and more.

The edition will also feature inspiring success stories under the title "Unveiling the Inspiring Business Leaders: A Celebration of Excellence" and celebrate Canada's promising businesses in "The Journey of Successful Canadian Startups." Our exclusive interviews with accomplished business leaders like Giles Sutherland, Delly Dyer, and Muraly Srinarayanathas, among others, offer you valuable firsthand perspectives on various aspects of business.

Highlighting this month's edition is our Business Woman of the Month, Anna Sainsbury, CEO and Co-Founder at GeoComply. Her entrepreneurial journey and achievements are absolutely motivating, and we are proud to share her story with you.

Moreover, we're delighted to announce the upcoming CanadianSME Small Business Summit 2023, to be held on October 23rd at the Metro Toronto Convention Centre. The Summit will focus on "Empowering SMEs with AI: Innovation, Efficiency, and Growth." This event is an incredible opportunity for business owners to understand and integrate AI into their operations, irrespective of their current level of familiarity with AI. We encourage you to register for this percipient event at https://bit.ly/3NG87zv. This is a golden chance to engage with attendees, cultivate new relationships, and discover fresh opportunities that could redefine the trajectory of your business.

Additionally, the summit presents a juncture for business owners to exhibit their unique brands and services. We invite you to showcase your distinctive contribution to this evolving landscape, helping you stand out in an ever-competitive market. You can reserve your booth at https://bit.ly/3PKLj4p.

As we continue this journey together, we invite you to subscribe to our magazine to stay updated on the latest trends, events, and groundbreaking insights from industry leaders. We remain devoted to your success and growth and are grateful for your continued support.

Until our next issue, we wish you an enlightening and enriching reading experience.

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INSURANCE

AtMeridian,weknowhowimportantit istoprotectyourbottomlineasa smallbusinessownerandappreciate thechallengesforsmallerenterprises toaccesscommercialinsurance,” saysLizBlazanovic,VicePresident, BusinessBanking,Meridian “We believewearefillinganeedby partneringwithTruShieldtoprovide accesstoanimportantbusiness requirementthatcanhelpprotectour smallbusinessMembers.

FINANCE

Moresmallbusinessesneeded financingoverthelast decade,butcollateral requirementsandinterest ratesmakeitharderandmore expensive Smallbusinessesneedaccessto financing,butit’sharderand moreexpensiveforthemtodoso Andwhentheycanaccessit,they aretypicallyaskedtomakea personalguaranteeorputup personalcollateral,”saidTaylor Matchett,CFIBseniorresearch analystandco-authorofthe report

CyberCatchPublishes EducationalPodcastRevealingIn 20MinutesHowToDetectand RespondToAnIncidentInOrder ToPreventaCyberattackFrom BeingSuccessful

AccordingtoIBM’sCostofaData BreachReport2022,theaverage costofanattackintheUS is$94 million,whileinCanadaitis$56 million,withtheaveragetimeto identifyandcontainadatabreach of277days,however,organizations thatcontainedthedatabreachin lessthan200dayssawacost savingsof$1.1millioncomparedto thosewithbreachesofmorethan 200days

YoungCanadianswantguidancearoundtech fromtheadultsintheirlives

NON-PROFITORGANIZATION

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Cybersecurity

Don't Let Cyberthreats Win: How Cisco Security Keeps You Safe

Unleash the Shield: Discover Cisco's Dynamic Security Solutions for Unparalleled Protection - From DNS Security to Multi-Factor Authentication and Beyond!

ByChetanTewari, Business Development Manager-SMB, Cisco

It is important for small and mediumsized businesses (SMBs) to safeguard against various types of cyber attacks, including phishing, malware, ransomware, denial of service, and command and control (C2C) attacks

In order to do so, it is crucial to implement and utilize the most critical technologies available Threat vectors are constantly changing, and we are adapting accordingly Allow Cisco to handle your cybersecurity needs while you focus on developing and expanding your business

SMBs are often left behind in the cybersecurity race. Certain small and medium-sized business owners hold the belief that their company is not significant enough to attract the attention of a hacker Some people find the notion of integrating security technology to be overwhelming, causing them to settle for basic security measures, assuming that they will suffice It is worth noting that the current cybersecurity technology is highly accessible to businesses of all sizes, which is great news

Do the data and user protection measures extend to your knowledge workers when they are working remotely?

Protecting DNS is crucial to ensure the safety of networks and users against malware infections, unauthorized communication, and access to malicious content It also helps prevent data exfiltration, enhances web filtering and parental controls, defends against DNS-based attacks, and optimizes network performance Incorporating it into a comprehensive cybersecurity strategy is crucial to safeguard against various threats that take advantage of DNS infrastructure

Cisco Umbrella is a security platform that is delivered through the cloud and offers protection against a diverse array of online threats The service functions as a secure DNS (Domain Name System) service, providing a protective layer between users and the internet to guarantee safe and secure internet connectivity

Cisco Umbrella utilizes DNS and intelligent proxying to thwart malicious activities and prohibit users from accessing harmful websites, links infected with malware, and other online threats The system functions at the DNS level, enabling it to detect and prevent potential security risks from reaching a user ' s network or device

When it comes to protecting your network, users, and data from online dangers, Cisco Umbrella is the complete cloud security solution It offers real-time threat prevention, web filtering, and secure internet access

What does your access control posture look like today?

Implementing multi-factor authentication is crucial for improving security measures It helps to safeguard against password-based attacks, prevent identity theft, meet compliance standards, secure remote and mobile access, enhance user convenience, and establish user trust Safeguarding sensitive information, systems, and resources is a crucial aspect of a strong security strategy

Cisco DUO is a technology that offers multi-factor authentication (MFA) to enhance security when accessing different systems, applications, and data A multifactor authentication is a useful tool for verifying user identities through various factors, including passwords, biometrics, or physical tokens. This approach helps to minimize the risk of unauthorized access and data breaches

Cisco DUO provides various significant advantages for small and medium-sized businesses (SMBs):

Improved and Better Security: Cybercriminals frequently target small and medium-sized businesses (SMBs) because they are perceived as being vulnerable To address this issue, enhanced security measures are necessary By integrating Cisco DUO's MFA solution, small and medium-sized businesses can enhance their security measures by incorporating an additional layer of protection against unauthorized access, credential theft, and phishing attacks

Simplified User Experience: Cisco DUO prioritizes delivering a smooth and easy-to-use authentication process for its users. The system provides users with a range of authentication options, such as mobile push notifications, SMS codes, phone calls, hardware tokens, and biometrics This allows users to select the most suitable and easily accessible method for their needs

Cost-Effective Solution: Cisco DUO is a cost-effective solution that has been specifically designed to cater to the needs of small and medium-sized businesses with limited resources and budgets The product provides SMBs with the ability to implement strong authentication without requiring extensive IT expertise or significant financial investments. This is made possible through flexible pricing models, scalability options, and simplified deployment processes

Is a simple firewall sufficient?

Firewalls play a crucial role in ensuring network security The main purpose of firewalls is to establish a protective barrier between internal networks, like corporate or home networks, and external networks, such as the Internet This is done to prevent unauthorized access and potential security threats

Cisco Meraki offers a comprehensive security appliance and networking solution known as Meraki MX The device integrates firewall, routing, switching, and VPN functionalities into a unified and user-friendly system The Meraki MX is a networking solution that caters to the needs of small and medium-sized businesses (SMBs) It offers various advantages that are specifically tailored to meet the requirements of such businesses Here’s a rundown of them:

Streamlined Network Management: Small and medium-sized businesses (SMBs) frequently face challenges due to their limited IT resources and expertise The Meraki MX makes network management easier by offering a centralized dashboard that is based on the cloud. Small and mediumsized businesses can effortlessly set up, oversee, and handle their network infrastructure, even if they have limited technical expertise

All-Encompassing Security: The Meraki MX provides a wide range of security features that are highly effective, such as next-generation firewall (NGFW) capabilities, content filtering, intrusion prevention, and advanced threat protection. This solution assists small and medium-sized businesses in safeguarding their network against a range of cyber threats, including malware, ransomware, and unauthorized access attempts.

Safe Remote Access: Due to the growing popularity of remote work, small and medium-sized businesses require secure remote connectivity solutions The Meraki MX platform provides support for Virtual Private Network (VPN) connectivity, which enables employees to access the corporate network from remote locations securely Enabling secure communication and data access can enhance productivity and flexibility

The Cisco Capital Business Acceleration Program, introduced by CDW and Cisco, allows you to delay payments until January 1, 2024, allowing you to go forward with urgent cybersecurity investments without delay Check out the company ' s webpage for additional info. Click here: https://www.cisco.com/c/en in/buy/paymentsolutions/business-acceleration.html.

Open Banking and how Canada

stands to benefit from it

By Michael Cascone Head of Government Experience for Canada at Xero

Open banking can be a very nebulous concept for many small business owners When you ’ re trying to focus on running your business, who has time to learn about how banks and fintech can leverage customer-permission data? Just the thought will make many reach for a cup of coffee; however, as the federal government continues to make progress on a Canadian open banking framework This will become an absolutely essential enabler that can help streamline the financial side of your business, saving you time and money

So what is open banking? Open banking, sometimes also known as consumer-directed banking, is a secure way for you to share your financial data with financial technology companies When you use a fintech app with open banking, your bank securely shares your financial data with the app on your behalf using a secure online channel. You don't need to provide your online banking username and password to access the app ' s products and services, and critically, it allows the user to decide how fintech apps can use their banking data This allows fintech to leverage that data to create a whole new set of products and services to better serve your business in a secure and seamless fashion

Markets like the UK, where open banking is already in place, have seen outsized benefits. In June 2022 over 370,000 Xero small business customers had an active open banking bank feed in the UK, and research from the UK Open Banking Implementation Entity shows that within small businesses adopters of open banking enabled cloud accountancy services:

84% were able to manage their business more efficiently

79% had a more reliable, secure backup of their financial data, and

79% were making better business decisions

The financial insights granted through consumerdriven finance have the potential to not only transform the way small businesses operate today but future-proof their operations against future instability For example, it can provide small business owners with completely accurate and up-to-date insights on their accounts receivable and payable, which is frustratingly difficult to get today, allowing for proper planning and decision making.

One of the most prevalent and impactful use cases is with access to credit for newcomerowned businesses This is particularly the case in the current tough trading environment where the combination of only modest economic growth and ongoing above-average inflation is squeezing small business cash flow Small business owners need liquidity and credit to grow in this environment, but newcomer business owners often don’t have access to traditional credit avenues given their out-of-country credit history Open banking can help alleviate this by providing alternative credit providers access to a broader spectrum of the business owner ’ s financial information, allowing them to provide new credit products and services With instability in the market continuing, this can be a massive support for small business owners

Prior to joining Xero in late 2021, Michael was the Senior Director of the Scale-Up Institute Toronto at the Toronto Region Board of Trade He led the launch of the small business accelerator and ran a number of highimpact programs focused on small business growth and digitization In his time leading the organization, the Scale-Up Institute Toronto supported over 2,000 small businesses across Ontario, securing significant private and public sector investment, and winning the 2020 Ontario Chamber of Commerce Chair’s Award for Innovative Programming.

Michael also has over ten years of experience in both the federal and provincial governments, focusing on innovation and scale-up policy, trade agreement negotiation, and the automotive sector. He actively participates in the small business research community as well, acting as an expert advisor on a number of research councils He has recently taken on the position of Vice Chair for the Scugog Township Economic Development Advisory Committee

Things Businesses Should Consider 5 in a Higher Interest Rate Environment

Over the last 12 months, the Bank of Canada raised interest rates seven consecutive times, from 0.25% to 4.75%. Higher rates affect business owners in different ways. Consider these tips to adapt to today's climate.

Today’s interest rate environment is a gamechanger for many businesses on many levels For highly leveraged businesses, the increased cost of borrowing may put a perceptible squeeze on the operating budget. For those with investable assets, there’s an opportunity for growth.

Here are five ways to weather the downside of higher rates and take advantage of the upside where you can find it

Re-think your savings strategy

While many business owners parked excess cash in their business bank account to help ride out the pandemic, additional funds may have a better home today Years of lowinterest rates have delivered minimal growth for GIC investors; but, as rates have risen, more competitive GIC rates offered by financial institutions mean more attractive returns for a safe, fixed-rate investment

If you accumulate funds from recent sales and contracts, consider a savings strategy with flexible terms whether your goal is to earn interest while the funds are sitting in your account in the short term or to actively shore up your savings for future capital equipment or anticipated expenses in the mid-to-long-term, advises Joanne

Ironside, Senior Relationship Manager Business Markets at RBC

Focus on what you can control

You can’t control interest rates and trying to predict them isnt viable either So, if higher rates are eating into your bottom line, it’s a good idea to try to offset them with lower expenses elsewhere in your business Here are a few ways to find savings:

Reduce your fixed and variable costs Consider if there are ways to downsize your office space, optimize your inventory or negotiate terms with your suppliers that can boost your cash flow

Read 5 Tips to Help Find Hidden Savings and Offset Rising Business Costs for more ways to help maintain profit margins in today’s environment.

Assess your business credit cards and loans Try to save on interest costs by paying your balances on time At the same time, find ways to maximize your business card’s potential by using rewards points for business essentials

Utilize tax credits and nonrepayable government grants ‘Free money ’ can also come through value-added partnerships and no-cost resources available to business owners online

Related story: 5 Ways Grants Can Help Grow Your Business in 2023

The Canada Digital Adoption Program (CDAP) offers two grants to help owners leverage technology to get online, reach more customers, operate more efficiently, and propel their businesses forward Learn more

Understand the pros and cons of fixed and variable rates

When you ’ re borrowing for your business a commercial mortgage, a term loan or a line of credit you’ll want to understand the type of rate you ’ re signing off on and what the implications are for your business

While fixed-rate loans generally have higher posted rates, they offer the certainty of a known payment, regardless of whether rates rise further

Variable rate loans, meanwhile, will become more expensive to service when interest rates go up and business owners who have been carrying variable rate debt are feeling the impact of the rate hikes over the past year

While one of these rate types isn’t “better” than the other, there may be a clear option for your business. It’s worth creating different scenarios based on different rate environments to determine how your cash flow may be affected

Watch the RBC Small Business Talks webinar to learn how to incorporate scenario planning into your business plan

In the meantime, take a moment to ask yourself a few questions as you assess your borrowing solutions:

Can I afford higher payments on a variable-rate loan/mortgage if rates rise again?

Am I comfortable with the risk that comes with a variable-rate product?

Am I expecting consistent revenue over the near term? (If so, a fixed-rate loan may offer revenue stability )

Interest rate implications will likely be highest where you do business, as rent or mortgage is typically a business owner ’ s biggest expense If you ’ re weighing your options to rent or buy commercial real estate, RBC’s Should you Rent or Buy Commercial Real Estate? 5 Questions for Business Owners to Ask Themselves can help you decide what’s best for your business

Create an emergency fund

Business owners are acutely aware that external factors completely out of their control can affect their bottom line Hence the importance of creating an emergency fund for the future

Aim to save at least three months’ coverage of your fixed costs If possible, set aside a sixmonth runway

For more ways to future-proof your business during difficult economic times, read 5 Steps to Strengthen Your Business During a Downward Economic Cycle.

Build an opportunities fund

Once you ’ ve established an emergency fund and your expenses accounted for, try to set aside a cash reserve for opportunities, however small that might be Remember, even the pandemic offered unique opportunities for business owners who found creative ways to build their businesses and meet customer needs Being prepared to act on new ideas can help your business weather tougher times

The Bottom Line

Higher interest rates have made borrowing more expensive for business owners, but they also offer the potential for savings growth (and a reason to look at operating expenses closely) Knowing the impact of rates on your business and understanding the options and opportunities available can help keep your business financially healthy

Securing Your Physical World Digitally

By Shawn Hawley, Meraki Canada Segment Lead

Internet of Things (IoT) is something we hear often but brush off in the world of small and medium sized business as being out of scope for return on investment on our needs in day to day business and operations Here at Cisco Meraki, we are here to tell you that IoT helps small and medium sized business thrive with simple to deploy, plug and play solutions that can help you drive just about every business outcome you can dream up

You might be surprised to learn that you are probably using IoT every day already within your own household Do you currently have a doorbell that captures video when rung or when movement happens within its view, all accessible from your smart phone, or a thermostat you can control remotely from your smart device? These are all examples of Internet of Things, which is defined as physical devices connected to the internet to drive real world outcomes

Typically, when we think of a video camera in our local coffee shop, convenience store, or restaurant we are thinking of video surveillance for use to help solve a case after an incident has occurred Here at Cisco Meraki, our cameras are smart devices that have much more powerful analytics built in that can enable small and medium-sized businesses to gain analytics to drive proactive, impactful business outcomes to help improve customer experiences and give you the data required to make data-driven business decisions Meraki Cameras (or MV as we call them) have powerful analytics right out of the box such as people counting as they enter an area you are monitoring, motion search to highlight incidents that happened in a particular area, and heat mapping to see where people are spending the most time in your store or place of business

We also wanted to take a step further on your journey with us and created the Meraki Marketplace www.apps.meraki.io which acts as our app store with applications that you can use in conjunction with our cameras, sensors, and access points to drive small to medium business outcomes Everyangle is one of our 250+ apps that provides retail analytics based on customers’ behaviors in your environment and can even tell you if they came in happy and left unhappy based on facial expression

Meraki Cameras are easy to set up by plugging in via power over ethernet or standard wall plug and connecting via Wi-Fi. No need to run video cable and buy video monitoring equipment as the video stores on the actual camera and can also be stored in the cloud, creating ease of use/deployment for small to medium size business owners and teams. Meraki Vison Portal gives you and your team easy access to our mobile app to monitor the video and playback remotely. We have over 15 camera models for indoor and outdoor use, night vision, 4K, and much more!

CDW is a partner we work with in Canada to assist our customers in selection of devices based on your environment and needs and can fully manage your Cisco Meraki environment should you wish to offload that work to focus on other business priorities We also offer our See Try Buy promotion to every customer We prefer you try out our solution before buying it with no strings attached as we want to ensure our solution performs to your satisfaction and standards This is why we have a 91% licensing renewal rate because our customers are that happy with our product. Our Marketplace applications offer the same See Try Buy option as we want to ensure you are making the right business decision when starting your journey with us

GilesSutherland

VPBusinessDevelopment,Interac

During a recent interview with CanadianSME, Giles Sutherland, VP Business Development, Interac, shed light on Interac Verified a suite of solutions that empowers Canadians to digitally verify their data for accessing services offered by participating businesses and governments Giles discussed the motivations behind Interac's expansion beyond payments into digital verification and authentication He explained the workings of Interac Verified and identified the industries or sectors benefiting the most from this innovative solution Giles also shared his vision for the future of Interac Verified, envisioning it playing a larger role in facilitating safe and secure online transactions As an expert in the field, he provided valuable advice to individuals and businesses considering the implementation of digital identity verification solutions.

As Vice President of Business Development, Giles leads the commercial initiatives for the Interac Verified business –including leading the Go-to-market strategy and executing the growth and revenue operations for the business unit. Prior to Interac, Giles was a founding team member of Carta Worldwide, a Canadian Fintech platform, where he led the business development function from inception through international expansion and acquisition in 2021 With a background in Finance, Giles's career has primarily focused on driving growth within emerging technology sectors, including work with leading financial and technology organizations in Canada, the US, and around the globe

Can you tell us a little about Interac Verified and what it means for Canadians?

In today's digital world, Canadians are increasingly concerned about verifying and protecting their data online We recently conducted a survey that showed 74 percent of Canadians want more control over their online information, and almost 70 percent worry about how their personal data is being shared without their consent

Interac Verified is a suite of solutions that enable Canadians to digitally verify their data to access services offered by participating businesses and governments For consumers, it eliminates the need for physical documents or in-person visits and allows Canadians to exchange identification documents and sensitive data easily Businesses benefit too, as it reduces manual processes, minimizes errors, and helps them acquire more customers

What motivated Interac to move beyond payments and into digital verification and authentication?

We noticed a clear demand from Canadians for safer and more convenient ways to conduct online business The statistics speak for themselves: Canadians lost $530 million to fraud in 2022 alone, and research from earlier this year tells us that 78 percent of Canadians feel they lack the necessary information to protect their data online. Additionally, 47 percent believe their information is at greater risk of fraud today compared to before the pandemic.

As digital transformation continues to accelerate, Canadians are increasingly relying on technology to exchange information and data as part of their daily lives As an organization and one of Canada’s most trusted brands, we want to empower Canadians to digitally interact and engage with confidence This applies to helping Canadians pay and get paid, and now extends to how Canadians exchange their data digitally

Can you walk us through the process of how Interac Verified works?

Interac Verified is a suite of verification and authentication solutions comprised of Interac verification services, which allows users to establish a connection with a trusted partner, such as their financial institution, using existing bank login credentials to share data Interac document verification service uses an automated process that matches a liveness check to a photo of a government-issued ID. And Interac sign-in service ensures the right access is given to the right person by utilizing existing login credentials from a trusted source, like a financial institution This eliminates the need for managing new login credentials

Together, these solutions make up Interac Verified Underpinned by an interoperable network, this solution connects parties requesting the required data and the parties providing that data Similar to our role in payments, Interac is the leading in-market partner in Canada that connects consumers to businesses and governments

What industries or sectors do you see benefiting the most from Interac Verified?

Many types of industries can benefit from Interac Verified, but industries facing high levels of fraud, such as real estate and insurance, will benefit greatly from Interac Verified Lets look at real estate for example Verification solutions can help improve efficiency, convenience, and security by reducing identity or financial information fraud for renters, landlords, real estate sellers or buyers, and new mortgage applicants

Interac Verified has the potential to benefit various areas of the economy, including government services, human resources, and technology, all of which frequently require personal data and credential verification

How do you see Interac Verified evolving in the future?

Over the last few years, we ’ ve seen many changes in the landscape Notwithstanding these changes, the topics of privacy, trust, choice, and convenience have remained paramount to the work we do

Our solutions are designed with these themes in mind and to support multiple technology standards so businesses can meet their customer’s expectations today and in the future. As the digital landscape evolves, so does the Interac Verified suite.

Whether it's shopping, applying for a mortgage or bank loan, or accessing government services, our goal is to ensure Canadians can safely and securely participate in the digital economy That requires taking meaningful steps on our part to provide safe, secure and trusted digital experiences that protect Canadians.

With the ongoing pandemic and the shift towards digital interactions, do you see Interac Verified playing a bigger role in facilitating safe and secure online transactions?

Absolutely At a time when we ’ re conducting more activity online – whether it’s buying second-hand patio furniture or applying for a mortgage – digital verification technology, like Interac Verified, can help provide peace of mind to the individual on either side of the transaction These are just two use cases out of many, and only scratch the surface in terms of the application possibilities of verification

Regardless of what consumers ’ needs are tomorrow or eight months from now, protecting Canadians’ personal information – and giving them peace of mind, what they want and need – needs to be a top priority for all of us.

What advice would you give to individuals and businesses looking to implement digital identity verification solutions?

Canadians are highly concerned about protecting their online privacy, and according to our research, individuals are holding organizations accountable for protecting their data

For businesses, implementing verification services not only enhances their customers' sense of security but also builds consumer trust By adopting solutions like Interac Verified, businesses can strengthen trust with current and prospective customers, provide better digital experiences, and mitigate external threats.

Engaging Target Audiences in a Changing Market: Delly Dyer's Insights

In a recent interaction with CanadianSME, Delly Dyer, the Senior Manager of Consumer Brand Marketing at DoorDash Canada, shared her seasoned perspective on today's evolving marketing landscape Delly discussed the paramount challenges executives and businesses encounter in effectively engaging their target audiences amidst shifting consumer behaviors She underscored the importance for brands to establish and sustain a robust online presence, considering contemporary consumer trends As a veteran in the field, she elaborated on the strategies she recommends to companies keen on pivoting and adjusting their branding and communication efforts. Delly emphasized the pivotal role of innovation in carving successful marketing strategies and shed light on fostering a culture of innovation within marketing teams. Lastly, her words of wisdom to aspiring marketing professionals were centered around making a significant industry impact and proficiently navigating the dynamic consumer landscape.

Delly Dyer, Senior Manager, of Consumer Brand Marketing, at DoorDash Canada, is a strategic marketer with over 15 years of experience and has successfully developed and executed brand marketing and communications for B2C and B2B businesses Delly combines strategic thinking with a detailed-oriented approach to execution and a focus on client service Throughout her career, she has been able to pinpoint her area of expertise which lies in the interpretation and communication of complex concepts in a persuasive and creative way, regardless of the demographics of her audiences Leveraging her insider knowledge, and experience, she is also passionate and focused on mentoring and helping develop the next generation of marketing leaders and professionals!

In today's rapidly changing marketing landscape, what do you think are the most significant challenges that executives and businesses face in effectively reaching and engaging with their target audiences?

There are two significant challenges we ’ re facing currently--one is age-old and one a bit newer

The age-old challenge is one marketers have always faced: identifying the right channel mix to reach your audience at the key moments that best connect your brand with their needs What makes this challenge more significant now is the sheer breadth of channels we have at our disposal. It’s such a fun and wild time to be a marketer, with so much incredible unprecedented opportunities to reach and connect with our audiences, and naturally, we have this desire to be in the new trending space But just because a channel exists, doesn’t mean it’s the right one for your brand It’s a constant world of learning, research, testing, and optimizing to find that sweet spot And even when you find it, you know it won’t be the same 3 months from now!

Senior Manager, Consumer Brand Marketing, at DoorDash Canada

The newer challenge is in building a purposedriven brand that aligns with your audiences on critical values like equity, inclusion, environmental awareness, and more And within that is the very difficult challenge of finding ways to authentically activate your purpose and mission with your audience, while still driving business objectives With today’s consumer so attuned to socio-political and economic conversations, BS detectors are unmatched It’s critical for us marketers to ensure we ’ re always reading the room in culture, and thinking very strategically about each move we make.

How have you seen consumer behaviors and habits evolve in recent years, and what implications do these changes have for marketers?

Building off the previous question, the biggest shift I’ve seen is that consumers are now aligning themselves with brands that support their values If a brand’s purpose and mission feel unaligned, consumers are not shy about speaking out The damage that can cause can take years to repair or destroy a brand entirely It’s important to earn trust, which means authenticity, honesty, and relatability It’s now far beyond putting out a Corporate SocialResponsibility report once a year, consumers are looking at day-to-day operations, interactions, and associations As marketers today, we have a responsibility to ensure that the brand purpose and mission we ’ re putting out into the world is true and be prepared to validate it with receipts

As a senior marketing professional, what strategies do you recommend for companies looking to pivot and adapt their branding and communication to align with changing consumer trends?

Examine the “why + what” and validate it with data Why are you pivoting and what is it about the brand that is no longer working? What’s driving this decision and what impact

(or lack there-of) did your current or previous branding/communications have on your audience?

As any marketer knows, large pivots to branding and communications can take years with many intended and unintended consequences Make the investment in research to gain tangible and factual insights to inform your decision We now work in the art and science of marketing, so everything needs to be tested, gut-checked, and informed by robust data

With the rise of digital platforms and social media, how important is it for brands to establish a strong online presence? What are some effective ways to build and maintain that presence?

From a brand perspective, digital platforms and social media are incredible tools to increase awareness and grow brand affinity They can help foster brand trust, which is key when retaining existing audiences They also provide a unique opportunity to bring your brand personality to life and differentiate within your category, while creating a 2-way 24/7 line of communication with your audience

The most effective way to establish a presence is through consistent, authentic, and engaging content that connects your brand’s offerings with whats happening in culture, and in the lives of your audiences It comes back to finding that perfect channel mix--and it may take some time to identify which levers and platforms across paid and organic channels are best Once you find it, the next step is to ensure you ’ ve invested in a strong paid and organic content plan that continually gives your audience a reason to stop their scroll.

In an increasingly competitive market, what role does innovation play in developing successful marketing strategies? How can companies foster a culture of innovation within their marketing teams?

Innovation means never getting too comfortable, and it’s the only thing that’s going to allow brands to grow and thrive in our current market If your marketing plans are a rinse-and-repeat of the previous year or quarter, youre missing out on opportunities A successful strategy should include at least one or two things you ’ ve never done before--something to test, whether it’s validating a hypothesis or trying something you ’ ve seen work in other categories Something that’s a bit scary, and that pushes against the boundaries of your existing success It takes effort and guts, but it’s so worth it!

To foster a culture of innovation, you require the kind of trust and transparency at all levels that allows marketing teams to feel safe bringing their ideas forward Pitching an idea is terrifying, even a small one--but if youre operating in an open environment where ideas are welcome, it’s easier. It’s also important to ensure the team is aware that ideas don’t need to only come from the top. All levels should feel equally empowered And of course, deliberately building diverse and inclusive teams will naturally open up the door to the kind of bigger and broader thinking that leads to the best innovations

Finally, what advice would you give to aspiring marketing professionals who are looking to make a meaningful impact in the industry and navigate the everchanging consumer landscape?

It’s almost impossible to stay on top of every trend and shift in the landscape, so please don’t expect that from yourself or anyone else Instead, do your best to carve out a bit of dedicated time each week to dig into work, data or perspectives in the market that inspire you, or that you can learn from That focused time each week will compound, and keep you growing as a marketer.

I also recommend taking a little of the pressure off yourself Making a meaningful impact in the industry can mean so many things, and how you define that impact is likely to evolve over the course of your career Focus on the things that you love about the work, lean into your passions, continue to learn, find wonderful mentors and work towards waking up every morning loving what you do That will be incredibly meaningful

Fostering Inclusivity: Building an Environment for All Customers

During an exclusive interview with CanadianSME, Muraly Srinarayanathas, the Co-Founder and Executive Chairman of 369 Global, recounted his incredible journey as a serial entrepreneur driven by a passion for building and scaling businesses. Muraly shared his strategies for attracting and engaging a diverse audience, exemplified by his transformation of Computek College from 60 to 2,000 students an impressive achievement He emphasized the importance of market research and analysis in understanding different target demographics Muraly also provided valuable insights into fostering an inclusive environment within organizations, which appeals to a wide range of customers He candidly discussed the challenges he faced when scaling a business to attract a diverse audience and how he successfully overcame them Lastly, Muraly offered practical steps for entrepreneurs and business leaders to ensure their ventures evolve in line with the changing needs and expectations of diverse audiences.

Muraly Srinarayanathas is a serial entrepreneur and global strategist. He serves as the Co-Founder and Executive Chairman of 369 Global, an international group of companies in the education, finance, creative, entertainment, and venture capital sectors Muraly is considered a specialist in consumer culture and the immigrant market, namely for his unique immigration journey, international experience, and rich data collection from the business entities he leads

Muraly is the son of first-generation immigrant parents. He was born in the United Kingdom but spent much of his life unbounded by borders and lived in Europe, Asia, Africa, and North America. For over 25 years, he worked closely with immigrants in their local communities and built several successful businesses from the ground up across the globe.

Muraly Srinarayanathas Co-Founder and Executive Chairman of 369 Global

Gleaned from his global experience, Muraly recognizes the power of diversity and the need for brands to prioritize both global consumer culture (GCC) and local consumer culture (LCC) principles to connect with diverse audiences Whether it’s a local woman living in Kolkata, India, or an immigrant woman from Kolkata, India, living in Waterloo, Ontario, Muraly understands how organizations can leverage consumer insights to attract, communicate, and build long-term relationships with local and global audiences, and ultimately scale businesses from the ground up

Muraly is a strong believer in the power of philanthropy and launched his first social purpose business under the guidance of Dr. Muhammad Yunus, the 2006 Nobel Peace Prize laureate. He continues to apply a borderless perspective to bring diverse groups of people together around a common goal.

Muraly leads powerful initiatives that aim to create a sustainable and equitable future for all. As the Executive Chairman of 369 Global, he globalizes public and private sector leaders from around the world and forms partnerships to support local, national, and international growth As the Chief Executive Officer of Computek College, a leading career college of 30+ years, Muraly helps train thousands of newcomers and immigrants to become job-ready and lifeready in Canada Through 369Konnect, an integrated marketing agency, he helps brands attract and meaningfully connect with diverse consumers

Because giving back is a core focus of the group, Muraly also helps protect and improve holistic outcomes for underrepresented global communities through the Srinarayanathas Foundation, a charitable foundation with a hundred-year legacy.

One of your notable achievements is transforming Computek College from 60 to 2,000 students. What strategies did you employ to attract and engage such a diverse audience?

I am proud of how Computek has grown from 60 to 2,000 students a year but even if it grew from 60 to 61 students, I would be proud if we served our students in the right way. By that I mean looking at whether we empowered them and changed their lives while being culturally sensitive to their needs

When I worked with Prof Yunus, I was so excited by his ideas I jumped to the task of creating a plan to help hundreds of people When I shared my plan with him he said, " Focus on one person first, put all your effort towards that one person and their positive experience will attract others " That’s exactly how we grew Computek College

Can you share a bit about your background and journey as a serial entrepreneur? How did you develop a passion for building and scaling businesses?

I have had the good fortune of being mentored by a Nobel laureate, political leaders, and very successful business leaders but my very first mentor and the person who carved my path as an entrepreneur from an early age is my father He showed me how to build a life without fear or doubt and have a vision for a future that I may not even be alive to see Appa showed me from birth how to take a dream and make it a reality He encouraged me to take strategic and calculated risks that quickly taught me I was good at building businesses and enjoyed doing it

In addition, much of this success is rooted in our three-step proven process:

Embed: This means authentically inserting yourself into the communities you operate in to listen, learn, and understand needs, prime prospects, and desires.

Interpret: Interpret is about looking at the information we learned during the "Embed" stage and interpreting that information from our own perspectives and experiences At Computek, we first embed ourselves in the communities we are serving, then interpret these observations and reflect on how we can take the needs of employers into account to fine-tune our offering while keeping in mind our observations Then and only then should we act

Act: By interpreting and applying these insights we grew Computek significantly because we created an environment that was comfortable, welcoming, and safe for diverse communities They believed in us only after seeing we worked to understand their needs and circumstances to deliver the best education and resources possible.

The only way to become truly inclusive is to attract, employ and meaningfully engage a diverse team This is a constant effort by the full team When prospective hires and customers see a welcoming environment they can imagine being part of and an alignment of values, they begin to believe and want to contribute or collaborate Many organizations don’t consider the many layers of this and how to market effectively Ultimately you have to put in the work and be committed to learning and understanding what makes individuals and community groups feel seen and heard

Scaling a business often requires adapting to different cultural contexts and market dynamics Could you share an example of a challenge you faced while scaling a business to attract a diverse audience, and how you overcame it?

Building a business that appeals to a diverse audience requires a deep understanding of their needs and preferences How do you approach market research and analysis to gain insights into different target demographics?

It’s always a combination of qualitative and quantitative research We often conduct studies and polls amongst key stakeholder groups and also glean insights from one-on-one interactions, active citizenship, and work with community groups

In today's global marketplace, diversity and inclusivity have become key considerations for businesses. How can organizations foster an inclusive environment that appeals to a wide range of customers?

In North America, we often focus on assimilation over adaptation but it’s not always strategic Traditional Western thought is only one of many perspectives and we have to remind ourselves of this

When I ran my telecommunications company, Priyo Communications, in London, England, I was new to the industry and had no experience with some of the cultures the company was serving so I walked the streets day and night to learn I went to each shop that sold our SIM cards and watched the choices people made Did they pick our product, if so why, if not, what product did they pick?

Although I was new to the industry, I used this to my advantage and did things differently which helped us stand out We focused on markets our competitors did not consider We encouraged our customers to use one cell phone instead of two which was the norm at the time Finally, we provided more value to our customers which initially came at a cost but later proved fruitful, we played the long game as opposed to focusing on short-term wins.

Priyo grew from 200 users to 65,000 users in 2 years

Diversity and inclusivity are ongoing efforts that require continuous improvement. What steps can entrepreneurs and business leaders take to ensure their ventures evolve with the changing needs and expectations of diverse audiences?

Definitely keep your finger on the pulse of global trends and government priorities while staying connected with key decision-makers

The federal government’s bold immigration targets are one key opportunity leaders should be aware of We have an opportunity in front of us to welcome and train new Canadians to contribute to the economy and the jobs we need most Tailoring communication efforts to the very different needs of the groups we hope to target is essential

It’s also important to ensure the environment and culture that is created is truly inclusive All team members should feel comfortable sharing ideas and providing constructive feedback.

At Computek College we do not charge international student fees though it is highly lucrative to do so Most colleges charge international students three to four times more, but as immigrants and international students ourselves, able to understand related challenges and hardships this didn’t make sense

This decision by our senior leadership team occurred because everyone felt comfortable sharing their perspective We made a decision that matched the values of the type of college we want to be in

Finally, can you share any personal philosophies or guiding principles that have helped you navigate the challenges of building and scaling businesses to attract diverse audiences?

Absolutely I focus on leading with kindness and empathy and working to get to know and truly understand the communities I operate in while applying global thinking to Western business endeavors

Believe, conceive, achieve is my mantra Success is a mindset and my mindset has always been that it's never about the outcomes but enjoying the journey you take to achieve those outcomes while honoring those who joined you for the ride The most important thing is not to be distracted from your path because you are, ultimately – to quote "Invictus" – the master of your fate, the captain of your soul.

Alberta Business Awards of Distinction 2023: A

Celebration of Excellence and Inspiration

As the Alberta business community continues to thrive and innovate, one event stands out as the epitome of celebration and recognition: the [Alberta Business Awards of Distinction (ABAD)](LINK: abbusinessawards com) This annual gala, organized by the [Alberta Chambers of Commerce (ACC)](LINK: abchamber ca), brings together industry leaders, entrepreneurs, and distinguished guests to honor outstanding achievements and inspire excellence The recent 32nd ABAD gala was a resounding success, leaving attendees in awe and eagerly anticipating next year ' s event

We are thrilled by the overwhelming success of the 2023 Alberta Business Awards of Distinction," exclaimed Shauna Feth, President and CEO of ACC. "This celebration showcases the remarkable accomplishments of Alberta's business leaders and serves as a powerful inspiration for the entire community

The ABAD gala, held at the Renaissance Edmonton Airport Hotel on June 15th, 2023, provided an evening filled with anticipation, shared visions, and valuable connections Esteemed guests mingled with industry leaders, forging collaborations, while stories of resilience and innovation filled the air

The Alberta Business Awards of Distinction exemplify the spirit of entrepreneurship and excellence that defines Alberta's business landscape," stated Aaron Fleming, ACC Chair. "Attending this remarkable event not only celebrates success but also ignites motivation for future endeavors

The 2023 ABAD gala honored individuals and organizations across thirteen distinguished categories, highlighting their contributions to Alberta's business ecosystem Among the prestigious accolades, Alberta's Best of Business Award of Distinction was presented to All Choice Rentals Ltd from Drayton Valley, recognizing their unwavering commitment to delivering exceptional services Michael Doerksen, President of All Choice Rentals, shared his gratitude, saying, "This was the first time that we were nominated for an award outside our core industry, against businesses that have had tremendous success and national name recognition Being nominated and winning Alberta’s Best of Business award is certainly the pinnacle and is truly special. It has been a full team

effort for All Choice to achieve this recognition " Doerksen also emphasized the value of attending the gala, stating, "The gala provides an unparalleled opportunity for successful businesses and entrepreneurs to interact with each other and share stories and ideas "

The ABAD gala also provided a platform to connect, exchange ideas, and build valuable relationships The atmosphere was buzzing with energy as attendees seized the opportunity to forge partnerships and gain valuable insights from the stories shared throughout the evening

The success of this year ’ s ABAD gala has set the stage for an even more remarkable event in the upcoming year Whether you are an established business leader, a budding entrepreneur, or someone looking for inspiration and networking opportunities, attending the Alberta Business Awards of Distinction is an experience that promises to leave a lasting impact.

As Shauna Feth, ACC President and CEO, aptly expressed, "The ABAD gala is an investment in the future We look forward to next year as we continue to honor and inspire the exceptional achievements that shape Alberta's vibrant business community "

The Alberta Business Awards of Distinction is a shining beacon of celebration and recognition, showcasing impressive milestones and inspiring greatness in Alberta's business landscape. The recent 32nd ABAD gala was a testament to the province's entrepreneurial spirit, highlighting the remarkable accomplishments of visionary leaders Attending this event offers unparalleled opportunities for networking, inspiration, and collaboration Join us on this journey towards success and mark your calendars for next year ' s Alberta Business Awards of Distinction Let's celebrate excellence together!

[2023 ABAD Recipients](LINK: abbusinessawards.com/recipients/):

Alberta’s Best of Business: All Choice Rentals Ltd (Drayton Valley)

Business Innovation Award of Distinction: Convrg, formerly Westgen Technologies Inc (Calgary)

Community Attraction Award of Distinction: Old Red Barn Ltd (Leduc County)

Equity, Diversity & Inclusion Award of Distinction: CoachAbillity (Cochrane)

Female Entrepreneur Award of Distinction: Terrafirma Resources (Clearwater County)

Global Growth Award of Distinction: Nanoprecise Sci Corp (Edmonton)

Health and Wellness Award of Distinction: TransAlta Corporation (Calgary)

Indigenous Business Award of Distinction: Ginger’s Bannock House (Fort McMurray)

Marketing Award of Distinction: Honey Bunny Inc. (Guy)

Mentorship Award of Distinction: Audiology Innovations (Calgary)

Newcomer Entrepreneur Award of Distinction: Dr. Phone Fix (Edmonton)

Small Business Award of Distinction: Safety Buzz Campus Ltd. (Dunmore)

Young Entrepreneur Award of Distinction: Flying Goose Media (Calgary)

Harnessing the collective: maximizing the strength of innovation ecosystems using SR&ED

By rethinking their approach to R&D tax credits and other incentives, startups can free up cash for innovation which, in turn, translates to more meaningful solutions, products, and services that help to propel Canada into the future innovation economy. Here we present some leading considerations for businesses to obtain the capital they need to secure long-term growth

Startups are a vital source of innovation, job creation and economic growth in Canada. But this growth is only as strong as our collective ability to support it While Canada has a flourishing startup community, accounting for over 60% of new job creation in the country, only about 50% of new businesses survive beyond their first five years, with many struggling to manage cash flow

Fortunately, there are many federal and provincial tax credits, grants and incentives available to companies to help them overcome these challenges However, very few founders have firsthand experience navigating the system to optimize, or even just identify the various funding opportunities available.

Think strategically with SR&ED

Managing cash flow is challenging for a growing business If you ’ re investing in R&D, you may be able to offset some of those costs by claiming the Scientific Research & Experimental Development (SR&ED) tax credit SR&ED is Canada’s flagship R&D tax credit program, providing over $3b of funding to Canadian businesses each year

Matt Pearson

Dharmesh Gandhi

Most companies only leverage SR&ED annually, but in many cases, you may be able to use SR&ED financing as capital on demand to obtain the growth capital you need to reinvest in the business at any point during the year Funds can be available in as little as two weeks after applying And, in some scenarios, interest only accrues on withdrawals, enabling optimized cash flows while reducing the cost of borrowing. This allows claimants to manage the timing of their SR&ED refund, decoupling it from the CRA’s annual review processes.

Technology tools are also now available to help automate some of the SR&ED processes, ensure project details are collected throughout the full year, and dramatically simplify the review process

Making the most of your incentives

SR&ED is often the anchor of a good incentives strategy, but there are many other non-dilutive sources of funding you should consider Like any new funding, it takes an investment of time and effort to secure those incentives, but typically much less effort than you put into securing an equivalent equity investment or new customer To make SR&ED and grants an integral part of growing your business, consider the following points:

Extend your runway: Early-stage companies can delay equity dilution by taking advantage of government incentives. This allows them to extend their financial runway and increase valuations before seeking additional capital.

Secure more grants: Many of the best government grants are focused on startups, specifically on technology development, job creation, manufacturing, and market expansion However, like any good partner, governments have their own criteria to determine whether they want to do business with you Invest in this process the same way you would commit time and effort to a new investor or customer

Do it right the first time: The federal and provincial governments are important partners in funding innovation, and they expect a reasonable level of tracking and accountability for those publicly funded programs Use modern SR&ED technology tools and trusted advisors to build your claim throughout the year and assist in supporting it in a detailed review.

Reinvest in R&D: Use SR&ED and other incentives to fund additional research and development that might otherwise be out of reach. This can lead to accelerated project timelines, giving your company a competitive edge in the eyes of customers and investors

Investors look for companies that can amplify their investments through nondilutive sources of funding Understanding federal and provincial funding opportunities can empower startups to identify and tap into legislative and discretionary sources of government funding to fuel their innovation programs. Working with a group whose comprehensive approach enables practitioners to provide integrated support across a broad spectrum of areas, from compliance and assurance to tax advisory services, would bring expansive skills to that mix

About the authors:

Matt Pearson and Dharmesh Gandhi help lead a national team dedicated to guiding companies from all sectors in using government grants and tax incentives to help accelerate their investments in R&D and business expansion You can find out more here

KPMG offers full-time

employment to scholarship recipients

Moreover, he emphasized the impact this scholarship program will have on the future of professional services in Canada Lastly, Elio offered valuable advice to students interested in pursuing a career in accounting or professional services

Elio Luongo

CEO and Senior Partner KPMG in Canada

During an interview with CanadianSME, Elio Luongo, the CEO and Senior Partner of KPMG in Canada, shared insightful details about the Futures Fund Scholarship for Outstanding Leadership He discussed the inspiration behind KPMG's decision to offer guaranteed employment and executive mentorship to the recipients of the scholarship Elio elaborated on the selection process used to identify high-performing business school students and the criteria applied. He provided insights into the executive mentorship program and the benefits that scholarship recipients will receive. Elio also highlighted the role these recipients will play once they join KPMG and the projects and responsibilities they will undertake He discussed KPMG's strategies for supporting scholarship recipients beyond their initial employment

Elio Luongo is the Chief Executive Officer and Senior Partner of KPMG in Canada He is a member of KPMG’s Global Board and the Global Council of KPMG International As CEO, Elio provides leadership to and is responsible for all of the firm’s business across Canada including setting strategic direction

What inspired KPMG to offer guaranteed employment and executive mentorship to the recipients of the Futures Fund Scholarship for Outstanding Leadership?

At KPMG in Canada, we believe that everyone has the ability to lead, and we are committed to investing in future leaders As one of this year ’ s sponsors of Canada’s Outstanding CEO of the Year Award, we wanted to extend our support to these exceptional Canadian business students and further equip them with the right tools and resources they need to nurture not only their career journeys but their impact on our communities as well By providing recent graduates with engaging and innovative career opportunities, we hope to have a positive influence on the future of professional services in Canada by attracting and developing the next generation of diverse and innovative leaders

Can you tell us about the selection process for the 2022 Futures Fund Scholarship recipients? What criteria were used to identify the high-performing business school students?

The selection process for the 2022 Futures Fund Scholarship recipients involved a rigorous assessment by the program partners, Bennett Jones and Caldwell, of the candidates who have demonstrated exemplary leadership in their academic and extra-curricular initiatives The candidates were evaluated based on their academic transcripts, resumes, essays, and letters of recommendation The final selection was made by the program partners

How will the executive mentorship program work for the scholarship recipients? What can they expect to gain from this mentorship?

The executive mentorship program for the scholarship recipients is designed to provide personalized coaching and guidance from experienced KPMG leaders from our Management Committee. The mentorship will help the scholarship recipients develop their leadership skills, build their professional networks, and learn how to leverage their unique strengths and diverse perspectives to make a world of difference, both at KPMG, if they choose and the community at large The mentors will provide feedback, share their experiences, and offer advice on how to succeed in their preferred career path as we strongly believe in the power of leading by example The scholarship recipients can expect to gain valuable insights, recommendations, and support from their mentors

Can you describe the role of the scholarship recipients once they join KPMG? What kind of projects or responsibilities will they be working on?

KPMG’s recruitment team will work with the scholarship recipients to determine their areas of interest and create a role for them once they graduate Once they join KPMG, the scholarship recipients will work on a variety of projects and responsibilities that align with their interests and career goals They will have the opportunity to work with clients across different industries, develop their

technical and business skills, and collaborate with diverse teams They will be given meaningful work and responsibilities, and they will have access to ongoing training and development programs to help them grow their careers at KPMG

How does KPMG plan to support the scholarship recipients beyond their initial employment? Will there be opportunities for further training or development?

We are committed to supporting scholarship recipients beyond their initial employment by providing ongoing training, development, and career advancement opportunities The scholarship recipients will have access to KPMG's internal training programs, external conferences, and professional development resources We will also encourage the scholarship recipients to pursue advanced degrees and/or professional certifications and provide financial support for these pursuits

What impact do you hope this scholarship program will have on the future of professional services in Canada?

We hope that by providing recent graduates with access to engaging and innovative career opportunities, it will have a positive impact on the future of professional services in Canada by attracting and developing the next generation of diverse and innovative leaders By investing in the education and development of high-potential students from different backgrounds, we aim to create a more dynamic and competitive firm that can better serve the diverse needs of our clients and community.

What advice would you give to students who are interested in pursuing a career in accounting or professional services?

For students interested in pursuing a career in accounting or professional services, it’s important to focus on developing a strong foundation in accounting, finance, and business, while also cultivating leadership and communication skills Seek internships and other opportunities to gain practical experience and build your professional network Don't be afraid to take risks and pursue your passions, and always stay curious and open to learning Finally, seek out mentors and role models who can guide and inspire you on your journey We recognize we are truly at our best when we work together – embracing today’s opportunities in order to create a better tomorrow

Navigating Generational Change: Insights from Marc Desormeaux

Principal Economist, Canadian Economics at Desjardins

Marc Desormeaux, the Principal Economist of Canadian Economics at Desjardins, recently shared his insights with CanadianSME on the report titled "Charting a Course to Their Brightest Future: Navigating the Opportunities and Challenges of Generational Change," released by Desjardins He discussed the impact of this generational change on Canada's small businesses and the overall economy, emphasizing the finding that many business owners plan to sell or transfer their businesses to family members as they retire Marc also highlighted the importance of taking measures to ensure sustainable healthcare funding amidst demographic challenges Additionally, he delved into the regional variations in climate change concerns and their implications for Canada's efforts to address the climate crisis Marc identified key areas where innovation needs to accelerate to achieve net-zero goals and discussed ways to foster an environment conducive to rapid

innovation He also explored the role financial institutions and organizations like Desjardins can play in supporting young people and businesses during this period of generational change Finally, Marc touched upon the longterm implications of generational change, an aging population, and the climate crisis for Canada's economy, while providing insights on steps to ensure a prosperous and sustainable future.

Marc Desormeaux is Principal Economist, of Canadian Economics at Desjardins. He combines a global perspective with deep knowledge of Canada’s provinces and public policy landscape to tackle the most pressing economic questions facing Desjardins’ members and clients. Marc previously worked as a senior economist at Scotiabank where he advised clients in Canada, the US, Latin America, and Asia and as an economic forecaster at the Conference Board of Canada He is the creator of Desjardins’ quarterly Provincial Economic Outlook report and weekly provincial bond market commentary and is frequently sought out by media in both official languages for his views

Desjardins Economics recently released a report titled "Charting a Course to Their Brightest Future: Navigating the Opportunities and Challenges of Generational Change." Can you provide us with an overview of the report's key findings and its implications for Canada's young people?

This third and final report in our three-part series exploring the economic futures of Canadian youth uncovered that young people will be facing both enormous challenges and opportunities over the coming decades These will include everything from climate change –and the accompanying adaptation of our environment and industries, and the energy transition – to innovations spanning AI and autonomous vehicles. What’s more; not only will there be an enormous income transfer from an aging population but we will also see further costs and challenges as a result, which today’s youth will have to contend with as their parents get older

The report highlights that many business owners plan to sell or transfer their businesses to family members as they exit the workforce. How significant will this intergenerational wealth transfer be, and what impact might it have on Canada's small businesses and the economy as a whole?

With many small business owners planning to exit the workforce in the coming years, there will be huge opportunities for the next generation to take control of some of that wealth One study done by the Canadian Federation for Independent Business estimated that as much as $2 trillion worth of assets will be transferred to the next generation The next generation will also increasingly assume leadership roles in Canada’s business community

Our first report in this series identified that younger Canadians are more entrepreneurial than previous generations, meaning that not only will we see a shift in possession of wealth and leadership opportunities, but we also expect this generation to become the driving force behind entrepreneurship going forward

With Canada's aging population, healthcare costs are expected to rise steadily. How will this burden be carried by working Canadians, and what measures should be taken to ensure sustainable healthcare funding in the face of demographic challenges?

Canadas aging population will fundamentally change our society, economy, and public finances We expect to see far more health costs, growing more rapidly than the workforce, which means that working-age Canadians will have to bear more and more costs On the public side, most of these costs will be borne by provincial governments as they are responsible for healthcare, but the aging population also puts pressure on the federal government to supplement and offer assistance where it can, particularly through the Old Age Supplement

The good news is that immigration can play a role In solving this problem Research tells us that immigrants are contributing to Canada’s productivity, employment gains, and ultimately economic prosperity – and with more immigrants of prime working age coming to Canada, we expect that this trend will help offset costs from the aging population

Concerns about climate change vary across the country, with Quebecers being overwhelmingly concerned. Could you discuss the regional variations in climate change concerns and their implications for Canada's efforts to address the climate crisis?

The report found that as many as 3 in every 4 Canadians are concerned about climate change, with levels of concern varying by province – Quebec is the most concerned, for example, at a staggering 86% rate We also see that youth are more concerned than the generation that came before them, and for good reason, with evidence of climate change everywhere around us, such as through wildfires and floods We expect to see youth make different decisions than previous generations based on climate change implications, including around diet and whether to have children If governments continue to miss emissions targets, we will expect these types of decisions to continue and shape our countrys future

Achieving net-zero emissions will require an unparalleled pace of innovation. Can you highlight some key areas where innovation needs to accelerate to achieve net-zero goals? How can Canada foster an environment conducive to rapid innovation in these areas?

As we push toward net zero, we are going to see real risks emerge, including higher inflation or more financial market volatility, as well as opportunities that come from innovation As some industries – such as the non-renewable energy industry –become less prevalent than they have been in the past, we expect to see new opportunities in a number of fields, including critical minerals, repair and deconstruction of non-renewable energy, technology, and others which we may not even be aware of yet This innovation is going to be driven by the young, entrepreneurial generation that is up and coming today – so it will be important to harness young people’s innovative spirit through education and employment opportunities pushing for change

In your opinion, what role can financial institutions and organizations like Desjardins play in supporting young people and businesses during this period of generational change?

Financial institutions have a responsibility to support young people and businesses, especially during periods of change. These institutions have important connections with governments, businesses, and the broader population, meaning they are wellpositioned to understand different groups ’ needs and challenges They also have the resources for information-sharing to help young people and businesses be aware of – and prepare for –the challenges ahead, which was one of our objectives with this report

Looking ahead, what are the long-term implications of generational change, aging population, and the climate crisis for Canada's economy, and what steps should be taken to ensure a prosperous and sustainable future?

We expect to see enormous longterm change in Canada, much of which can’t be accurately predicted as the pace of innovation today, both here and around the world, is happening more quickly than anyone had anticipated It will be important to understand that technological change and artificial intelligence is supporting additional productivity and opportunity going forward for youth, so we can continue to harness their entrepreneurial spirit

In the short term, to ensure a prosperous and sustainable future, we would like to continue to see targets and criteria for immigration properly targeted toward labour market integration, so increased immigration can continue to benefit all Canadians and support our future

Empowering DEI: Heather Cameron on Measurable Actions and Strategies

In an exclusive interview with CanadianSME, Heather Cameron, Director of Brand & Creative at DoorDash Canada, underscored her advocacy for 2sLGBTQ+ inclusivity. Heather shared her insights on the challenges and complexities of Diversity, Equity, and Inclusion (DEI) and offered potential solutions to alleviate these issues She emphasized the measurable actions organizations should consider to enhance diversity and inclusion and proposed strategies to track their progress Sharing her collaborative approach with different teams to foster a DEI culture, Heather also highlighted specific initiatives she has spearheaded throughout her career With an eye on the future of DEI, she voiced her aspirations for change and advancement in the professional space and suggested the roles that individuals and organizations can play to turn this vision into a reality

Heather Cameron, Director of Brand & Creative at DoorDash Canada, a proud 2SLGBTQ+ leader and “Ma” to 6-year-old twins Hank and Rhys. She has followed a non-linear career path holding agency, publisher, and client-side roles. Heather has produced business-driving work, changemaking programs, and award-winning creative in her current role and throughout her career across iconic brands like HGTV, The Food Network, Microsoft, Rogers, and Walmart. She embraces the hustle every day and loves every minute of it.

Director of Brand & Creative at DoorDash Canada

organizations first align their mission and policies with shared principles and action to progress equity and inclusivity, and then extend that commitment externally to brand advocacy to drive meaningful change

In your experience, what are some of the common challenges that organizations and individuals face when navigating the complexities of DEI? How can they overcome these challenges and create meaningful change?

What inspired you to focus your brand advocacy efforts on spotlighting2sLGBTQ+ inclusivity? Can you explain the importance of this issue and the impact it can have on individuals and organizations?

As a member of the queer community, I am committed to advocating for equity and promoting inclusivity. Throughout my career, I have prioritized aligning with companies that share my values. I expect organizations to authentically communicate where we can get better through concrete actions and also to foster a strong commitment to representation andallyship It is important to me that

In my experience one of the most common challenge is taking the time to acknowledge what needs to be done Working on DEI initiatives requires crossfunctional collaboration, clearly defined metrics tied to actionable plans with owners, and engagement with the broader community to gain insights into best practices I have also learned over the years to prioritize my own personal wellness, to protect my energy, and create the space needed for processing the emotional weight that often accompanies this work

What are some of the measurable actions that organizations should consider when it comes to alleviating the issues of diversity and inclusion? How can companies effectively implement these actions and ensure they are making progress?

To echo the previous question, I think it’s critical that we create an environment that encourages people to be curious, proactive, and communicative To achieve this we need to hold a safe space where individuals of all backgrounds can express themselves and be heard If there are voices missing at the table, find them Listening then needs to move into action with defined goals, accountability and a plan to get there There is no end, this is an ongoing process and a way of working that needs to be supported at all levels

Throughout your career, what are some of the ways collaborate with different teams and stakeholders to foster a culture of diversity and inclusion? Are there any specific initiatives or programs that you have implemented to promote DEI within your career?

Culture is a team sport and throughout my career I have been privileged towork alongside peers and allies that practice this every day Over the years and within different organizations my lived experience has allowed me the ability to reframe things from a different perspective and create the space for more voices to be heard I've been part of teams and assembled teams that can discern the perspective behind policies and actions, effectively communicating overlooked aspects, and proposing clear paths for improvement

When we know what to change, we can get to work changing it

“Tell me about the culture ” , we have all gotten that question from potential employees and have asked it ourselves. It's a great question. It's an important question. I think an equally important question that needs to come from hiring managers is “tell me about how you contribute to and uphold culture ”

What are your plans for driving change in the future? Are there any specific initiatives or goals that you hope to achieve in the realm of DEI within your career?

I am here to empower and create space for positive change I am committed to actively listening, taking decisive action, and aligning those actions with the investments made, both internally and externally I am grateful to be part of an organization with shared values In my current role, with an amazing team and dedicated partners this looks like active involvement in the DEI employee experience, levelling the playing field with investments in Women's Sports through Project 8 and the WNBA, alignment of social giving in relationship to our business and to our values, and showing up all year round with BlackFoodEnergy, Made by Women and Kitchens without Borders programs increasing exposure and access to business accelerators and grants for under supported entrepreneurs Within the community, I have had the pleasure of mentoring youth entrepreneurs facing mental health and addiction challenges with the amazing organization RISE for the past 7 years. It fills my cup.

How do you envision the future of diversity and inclusion in the professional space? What changes or advancements do you hope to see, and what role can individuals and organizations play in making this vision a reality?

I actively work to keep my mind in the present What I hope to see more of from the marketing industry right now is the rhythm of acknowledging DEI at key moments in the year translated into action plans that address the issues at hand all year long

If you ’ re hoping to foster DEI within your workplace, first and foremost, take the time to understand the landscape you ’ re playing in, how the current objectives benefit and detract under-supported groups, and what areas of opportunities need to be addressed imminently to improve diversity including both the seen and unseen, and work towards inclusivity within your company and team. I strongly recommend prioritizing your own wellness and energy and finding your people that will put the work in towards progress, it won’t be everyone, but they are there I know they are

WhiteHaven CEO Discusses the Value of Alternative Investments

In a recent interview with CanadianSME, Tommy Baltzis, CEO of the investment group WhiteHaven, discussed the value of alternative investments, particularly in a volatile economy He emphasized the unique, equal opportunities these investments offer to Canadians, and offered strategies to navigate market turbulence Tommy also highlighted crucial considerations when venturing into alternative investments and suggested platforms and resources for exploring these opportunities He shed light on trends and factors that could push alternative investments into the mainstream, alongside discussing the importance and potential benefits of these investments in detail

Tommy Baltzis is CEO of the investment group WhiteHaven, which has locations in Montreal, Toronto, Calgary, Edmonton, and Vancouver. A Canadian alternative investment industry leader with more than 20 years in corporate finance, he has pioneered the democratization of alternative investments to the retail market Today, WhiteHaven uniquely finances innovative companies and offers exempt market products through registered accounts, with combined assets under a management portfolio of CDN$1 5B Holding CFA and CPA designations, Baltzis – a graduate of the Montreal-based John Molson School of Business – is a director on the Board of Governors of the Quebec branch of the Investment Funds Institute of Canada (CFIQ), and former Chairman of the Private Capital Markets Association (PCMA)

As a company challenging the status quo of alternative investing, could you explain the benefits of alternative investments, particularly in a shaky economy? How do they provide unique and equal opportunities for Canadians?

Alternative investments are a great way to diversify a portfolio Traditionally, when we think of investing, we automatically think of stocks and bonds, but there are so many other easily-accessible opportunities out there that most people don’t realize are available Think investments in startups, restaurant franchises, and private tech, energy, entertainment, and real estate companies, to name a few

Especially when public markets become volatile, it’s wise for investors to consider more stable investments – such as alternatives – that are resistant to market fluctuations They can help reduce a portfolio's exposure and are a great way for every Canadian to get into investing with relatively little commitment.

Baltzis CEO - WhiteHaven

Tommy

As an example, WhiteHaven recently helped a unique reality television series, The Fashion Hero, get off the ground by launching an investment fund in which people could invest as little as $500 Since then, the show’s popularity has soared, now streaming on Paramount+ Canada and entering its third season of filming – an exciting time for its investors While alternative investments do carry risks, they can enhance returns with less market instability

During times of market uncertainty, how can individuals invest in alternative assets? What strategies or considerations should they keep in mind to navigate market volatility?

Education is key for starters Investors should understand what alternative investments are, the risks they carry, and how they can work for their financial and portfolio needs Secondly, it’s important to be patient. When markets are volatile, one ’ s investment mantra should be "cash is king," which translates into patience over haste Alternative investments usually involve a longer-term horizon for returns This means that investments won't pay off right away If you put money into a residential real estate development, for example, you will have to wait until the units are sold before seeing a return on investment As long as there’s no need for quick access to cash, alternative investments can yield strong returns in the long run and serve as a risk reduction option in a portfolio

Considering the current economic climate, do you believe now is the right time to invest in alternative investments? What factors should individuals consider when making this decision?

While the current economic climate is an excellent time to consider alternative investments, it’s important to understand that alternative investment avenues are always accessible and offer great potential for portfolio diversification and strong returns no matter what the market conditions

When making investment decisions, it’s critical to establish clear goals and know your risk tolerance levels from the get-go. Consider if you ’ re looking for income, diversification, or protection from market volatility As alternatives carry their own risk, it’s a good idea to start small and gradually increase exposure as you become more experienced and comfortable

Investors should consider that alternative investments may need expert guidance to determine the best time to invest, review the various complexities of each product and its associated risks, and align the investments with their overall financial strategy. Research investment firms that deal with alternative investments and choose one with a proven track record in the exempt market that offers a variety of alternative investment options. Portfolio managers with expertise in alternative investments can help assess opportunities and make informed decisions

Where can individuals find alternative investments in the current market? Are there specific platforms, avenues, or resources they should explore to access these opportunities?

Finding alternative investment opportunities is easier than one would think Once the exclusive domain of institutional investors and the ultra-wealthy, they are now becoming accessible to all investors through various financial institutions and investment platforms You can find many of these by asking your financial adviser or bank for leads, looking for established financial services firms who operate in this market sector, or seeking guidance from accredited associations such as the Private Capital Markets Association of Canada (PCMA) and Alternative Investment Management Association (AIMA)

These organizations can point to startups and growthoriented SMEs that are seeking private funding to boost their companies, launch new initiatives, make acquisitions, or upgrade technologies to support their growth These types of alternative investments not only help launch dynamic entrepreneurial ventures and up-and-coming companies but are also a fantastic way to get your feet wet in this investment space

Looking ahead, do you foresee alternative investments becoming mainstream in the future? What factors or trends indicate this shift, and how do you anticipate it will impact the investment landscape?

Alternative investments are no longer a trend – they are increasingly becoming mainstream, as investors seek unique, diversified opportunities beyond traditional investment avenues This paradigm shift is propelled by the opportunities alternative investments offer for customization tailored to individual investment strategies As they allow for broader diversification and have the potential to deliver substantial long-term returns, alternative investments are becoming a pivotal part of portfolios.

Is there anything else you would like to share about the importance of alternative investments, their potential benefits, or your company ' s vision for the future?

Alternative investments are poised to continue to play a pivotal role in portfolio and wealth management Their potential for high returns and diversification is undeniable

Understanding the value of investors’ life savings, WhiteHaven takes our guidance role very seriously, providing experience and expertise to help investors navigate through the intricacies of alternative investments and ensure their investments align with their financial goals. Our vision for the future involves leveraging technology and innovation to make alternative investments even more accessible, transparent, and beneficial for all Canadians

Exploring Target Markets: ThermalWood Canada's Strategic Focus

In a recent interview with CanadianSME, Robert Lennon, the experienced co-owner and President of ThermalWood Canada, provided insights into his remarkable journey spanning over three decades in the industry He shed light on ThermalWood Canada's specific target markets, both present and future, showcasing their strategic focus Robert emphasized the numerous advantages of thermally modified woods over traditional woods, highlighting the benefits it offers to customers As the company continues to grow, he identified the most potential for expanding ThermalWood Canada's market presence In such a competitive market, ThermalWood Canada sets itself apart through its unique differentiators. Robert also shared current strategies for marketing their products to the public and revealed upcoming marketing initiatives planned for the future.

Robert Lennon is the esteemed co-owner and President of ThermalWood Canada, a thriving manufacturing company where he also serves as the International Marketing and Sales Director. In addition to this, Robert heads a strategic planning and management consulting firm, demonstrating his multifaceted business acumen

Holding more than three decades of industrial experience, Robert is a seasoned professional with an engineering background, significantly contributing to New Brunswick's mining industry His inherent capacity for training and motivating staff is widely recognized

Robert excels as a skillful negotiator, boasting robust marketing and business development capabilities He is an analytical strategist known for exceptional problem-solving, planning, and management skills. His superior command over English and French amplifies his effective written and verbal communication.

Robert Lennon

and President of ThermalWood Canada

When did you start your career? How will you describe your journey as a seasoned professional with more than three decades of industrial experience?

I graduated as a Civil Eng from UNB in 1979 Started my career in the pulp and paper industry and after a period of two years was offered an opportunity to move to the mining industry where I worked for 32 years in various positions All my managerial experience gained over those years prepared me for my life as an entrepreneur ThermalWood Canada started its operation in May 2008 In the corporate world, I was very fortunate to have been groomed to be a General Manager throughout my career This grooming allowed me to take on with confidence the role of

Government Relations

Fundraising

International Marketing/Sales Manufacturing process/innovation

Co-Owner

Can you please elaborate on the specific target markets ThermalWood Canada is currently focusing on? Are there any new markets you plan to tap into in the future?

We have 5 main revenue streams

Residential/Commercial envelopes (Siding/Decking/Flooring/Accent Walls/Countertops etc

B To B where we manufacture components for Door and furniture manufacturers.

The music industry where we supply both material and a service to make the wood more stable and change the tone of the wood

We also treat wood for others as a service of thermal modification Waste material is converted into mulch, smoker chips, and additives for an organic growing medium

This allows us to plan in various markets all over the world We presently sell across Canada, The United States, the UK, France, Spain, Norway, Fenland, Poland, Austria, Belgium, and the Caribbean Presently working on entering markets in Japan and the Middle East.

What would you identify as the main advantages of thermally modified woods over traditional woods? How does this translate to benefits for your customers?

Thermally modified wood is a process that is 100% green, we only use heat and steam to transform the wood The wood becomes very stable in a very highly humid environment The process increases the resistance to rot without chemicals The process takes domestic wood and makes it look like exotics, therefore curving the appetite for cutting trees in the rainforest This allows us to take North American hardwood species of wood and move them to other exterior application markets that they were never able to do in the past One example of that is using white ash as a decking a siding product

As ThermalWood Canada continues to grow, where do you see the most potential for your market presence to expand?

Traditional markets like decking and siding are obvious growth sectors But none traditional smaller nice markets like the musical instruments, outdoor furniture, butcher block countertops, alternatives to exotic woods, and the list goes on

With competition always present, where is ThermalWood Canada's main competition coming from? How does ThermalWood Canada differentiate itself in such a competitive market?

The biggest competition comes from Europe Many of the North American producers were in the wood business already and saw this technology as an opportunity to offer something different to their already existing customers. But in the last 5+ years, we have seen an influx of European producers. Our biggest competitive advantage is that we keep the wood and manufacturing in North America Our competition purchases wood here and ships it overseas for processing and shipping it back to distributors in North America We have very little distribution so people are purchasing directly from the manufacturer in Canada and we are proud to be Canadians

What are your current strategies for marketing ThermalWood Canada's products to the public? Are there any new marketing initiatives that you plan to roll out?

We are building our brand by telling others' stories We have a Podcast that we post once a week that showcases the talent in the Province of New Brunswick We love our province and we have so much to offer that we want to let everyone know what we have We have too many people that think and believe we are the Have Nots of Canada where it is the complete opposite Our strategy is to flood the social media platforms with stories that are produced by ThermalWood Canada We can use the analogy of a baseball diamond

With respect to consumer awareness, how do you plan to educate the public about the advantages of thermally modified wood and ThermalWood Canada's offerings?

We have been educating Architects since 2008 when we started We have delivered lunch and learns to well over 1000 architects over the years from all over the world During COVID we put out a virtual series of educational videos that we posted on our YouTube channel We also created a virtual tour of our facility with 110 information targets throughout the tour This tour is available by visiting our website We have converted a 24 ft enclosed construction trailer to a showroom that can be brought directly to the potential client's workplace or job site We are presently using our ThermalWood Canada page on Linked In to deliver pieces of technical information to the consumer

Social Media chatter gets you to first base

Out of that chatter, a % of the people that have been reached are curious to find out who ThermalWood Canada is and this gets them to 2nd base

Once they have seen what we have to offer as products a % of that number will reach out and ask for a quote or more information to be able to use our products on their project This gets us to 3rd base

To get from 3rd to home it is up to us to build that relationship with the client that we bring them to a sale and ThermalWood Canada being part of their story

We now create shatter on FaceBook, Linked In, and Instagram

Okta Canada's Dan Kagan

onCustomerIdentityTrends

& Country Manager of Okta Canada

In an insightful interview with CanadianSME, Dan Kagan, SVP & Country Manager of Okta Canada, unpacked the Customer Identity Trends Report from Okta Canada He provided strategies for businesses to leverage the increasing use of digital wallets in Canada while ensuring their security and user-friendliness for all age groups. Dan shared methods to build consumer trust and data safety in using digital wallet services and offered strategies for simplifying login procedures and reducing instances of forgotten credentials. He also discussed measures that allow businesses to offer personalized experiences while granting users greater control and shared tips to boost the adoption of password management tools Moreover, he suggested steps businesses should take to stay abreast of trends and ensure a secure, seamless user experience

Okta Canada released the Canadian findings of its first-ever Customer Identity Trends Report, can you begin by sharing the motivation behind conducting this research?

In today's digital world, evolving consumer expectations are making it tougher for brands to capture their attention On top of that, consumers are increasingly protective of their personal information and aware of their digital privacy rights.

Dan has been leading Sales and GTM organization in the technology sector for more than 20 years He has built his career leading SaS based organizations and has held senior roles at Actuate, Salesforce com, DocuSign, and most recently OKTA. Dan's focus has been on building, leading, and managing double-digit growth for sales and GTM organizations ranging from SMB/Commercial business customers to Enterprise-wide and Strategic accounts. Dan has received many Awards for his accomplishments and donates his spare time to assisting start-up companies navigate their first steps to market. Dan holds bachelor's degrees in business from both Seneca College and Ryerson University

Because of this, brands need to prioritize balancing convenience, security, and privacy so they can deliver the highly personalized experiences that consumers crave without running afoul of regulators' or individuals’ desire for privacy

Okta's first-ever Customer Identity Trends Report is designed to help digital leaders navigate that challenge It surveyed 20,000 consumers in over 14 countries, including 1,500 in Canada The survey explored their online experiences and attitudes in managing their digital identity It reveals how they’re thinking about convenience, security, and privacy and the implications for brands

SVP

The usage of digital wallets is on the rise in Canada, particularly among younger demographics. How can businesses capitalize on this trend and ensure that digital wallets are secure and user-friendly for consumers of all ages?

While digital wallet usage is on the rise – 42% of Canadians use them regularly, either every day or every week – some still hesitate to embrace them Nearly a third don’t want to use one at all, with many citing security concerns

Despite these hesitations, customers can take extra steps to ensure their digital wallet is secure without compromising convenience The biggest threat against digital wallets on cell phones is actually the loss or theft of the phone, so basic measures such as phone locking are important in case it goes missing They can also layer security with multi-factor authentication to access the wallet, such as with biometric login

The survey found that a significant number of Canadians (51%) would only trust themselves to own and secure their data behind their personal digital wallets. How can businesses build trust and assure consumers that their data is safe when using digital wallet services?

When it comes to building trust with consumers, especially around data safety, transparency is crucial for businesses Consumers are aware that sharing their personal information leaves a data trail, and they need to trust that the brand is being responsible with that information

The report highlights that many Canadians have numerous active accounts across various apps and websites, leading to challenges in remembering usernames and passwords. What strategies can businesses adopt to simplify the login process and reduce instances of forgotten login credentials?

Nearly three-quarters of Canadians have 10 more active apps they have an account with It’s, therefore, no wonder that 68% feel overwhelmed by the number of usernames and passwords they have to manage Forgetting passwords and usernames, especially when managing multiple accounts, can increase people’s risk of a data breach

To combat this problem, Canadians should embrace password managers to keep their accounts organized (However, only 27% of Canadians currently use a password manager) Businesses also have a responsibility to simplify the login process for consumers and can do so by enabling multi-factor authentication methods, such as biometric login or text verification.

Ultimately, introducing a passwordless login will have the greatest impact on brands, offering both a secure and seamless experience for customers

The majority of Canadians (87%) expressed the importance of having control over their data. What measures can businesses implement to give users greater control while still delivering personalized experiences?

There are several solutions that brands can deploy to give consumers more control over their data while still maintaining security and reducing friction

One example is anonymous or “guest” checkout, which allows users to use a service without having to create an account or for a brand to store information that is used to make a purchase. Another option is progressive profiling, which gradually asks the user for information as they experience more value from the service while still allowing them to get started quickly

To build trust, businesses must communicate clearly what they’re doing with that data and how they plan to keep it secure. It’s also key that they implement security controls that give consumers the ability to choose exactly what information is shared.

The study indicates that only 27% of Canadians use a password manager to protect their data. How can businesses encourage the adoption of password management tools and raise awareness about their benefits?

While password managers are important tools in reducing the management burden of passwords, they’re a temporary fix Brands need to shift towards a passwordless future It's the most effective way to keep customers’ data secure while improving the login experience

As part of this shift, brands should prioritize deploying more convenient login experiences that make it easy for consumers to safely access services

These include social logins that help streamline account authentication or biometric tools that are both convenient and secure

Looking ahead, how do you anticipate customer identity trends evolving in the Canadian market, and what steps should businesses take to stay ahead of these trends and maintain a secure and seamless user experience?

From this study, one thing is for sureCanadians are becoming increasingly more protective over their data They value control over convenience while having high expectations of brands to deliver seamless digital experiences

Brands’ approach to customer identity will need to continue to evolve not only to meet the demands of consumers but also to satisfy government regulations that are evolving to become more stringent

To succeed in this new environment, brands must strike a balance between offering a seamless user experience and protecting customer privacy. This can be done in three simple ways:

Explore new solutions for data personalization and frictionless services, such as anonymous checkout and progressive profiling

Transition out of the traditional username and password combination and offer secure and more convenient login options such as:

Biometric authentication; Multi-factor authentication; or Passwordless login

Be transparent with users about how digital identities are managed, including why data is needed, how it will be used and what security measures are in place to protect user accounts and their private data

Unveiling the Inspiring Business Leaders: A Celebration of Excellence

In this month's issue of CanadianSME Magazine, we celebrate the extraordinary people who push the limits of achievement and inspire us with their pioneering spirit and foresight We honor the exceptional business leaders who have made a remarkable impact in their respective industries These individuals have driven innovation, fostered growth, and championed positive change

Our featured leaders range from trailblazing entrepreneurs to seasoned executives, all of whom embody the qualities of resilience, determination, and ingenuity They have raised the bar for their companies and made it easier for others to succeed in today's fast-paced, cutthroat business environment

Join us as we delve into the captivating stories of these inspiring leaders, gaining insights into their strategies, challenges, and values that have guided them on their journeys Prepare to be inspired, motivated, and empowered as we uncover the secrets behind their success, providing a source of inspiration for aspiring entrepreneurs, business professionals, and dreamers alike. Here are some brief accounts of these three inspiring leaders, namely Benjamin Alarie, Allison Venditti, and Anie Rouleau.

BenjaminAlarie:PioneeringAIinLawtoBringClarityandEfficiency

Benjamin Alarie is a distinguished figure revolutionizing the legal sector through artificial intelligence (AI) As a law professor, author, and entrepreneur, his expertise spans law, technology, and innovation Benjamin founded Blue J Legal, an innovative legal technology company with a vision to transform how legal experts analyze and interpret the law Blue J Legal provides legal professionals with AI-powered tools that offer clarity and comprehension in complex legal matters By leveraging machine learning, their proprietary platform analyzes legal cases, statutes, and regulations, providing predictive analytics and comprehensive evaluations

Blue J Legal has created legal-specific instruments under Benjamin's supervision These technologies streamline legal research and analysis in taxes, labor, and intellectual property, saving attorneys time and money

Benjamin Alarie has pioneered AI and machine learning in the legal business He improves legal practitioners' decision-making and efficiency using Blue J Legal's products Benjamin adds clarity and insight to a changing sector with his multifaceted expertise

Benjamin Alarie CEO, Blue J Legal Inc.

Allison Venditti Founder of Moms at Work

Anie Rouleau Founder, CEO at Unscented Company

To experience the transformative power of AI in the legal profession, visit the Blue J Legal website today www.bluej.com and discover how their cutting-edge technology can revolutionize your practice.

AllisonVenditti:GivingWorking MotherstheToolsTheyNeedto SucceedintheWorkplace

Allison Venditti, a career coach, HR expert, and salary negotiation specialist, is a leading advocate for employed mothers seeking professional success. Through her platform, Moms at Work, Venditti empowers women to enhance their careers, foster inclusive communities, and navigate the challenges they face With over ten years of experience, Venditti provides personalized career coaching, helping women identify their goals and develop strategies to achieve them She utilizes her expertise in HR and salary negotiation to empower working mothers, ensuring they are recognized and compensated appropriately

Moms at Work goes beyond career development, creating a supportive network through networking events and online forums Venditti understands the importance of community and facilitates connections among like-minded women The platform also offers valuable resources and educational materials, including webinars, ecourses, and informative articles, covering topics such as career progression, work-life integration, time management, and personal development Allison Venditti's dedication has made her a trusted advisor and advocate for working moms Moms at Work serves as a support system, empowering women to overcome challenges and achieve work-life harmony while pursuing their professional aspirations

Check out her website to learn more about her initiative and be inspired at blog.thisismomsatwork.com

AnieRouleau:PioneeringFragrance-Free andEco-FriendlyProducts

The Unscented Co , founded by Baléco Inc CEO Anie Rouleau, offers fragrance-free, eco-friendly toiletries to combat the overabundance of perfumed goods Rouleau created natural, fragrance-free home and body care products locally Baléco Inc offers refillable and plastic-free packaging for sustainability Rouleau wants to eliminate consumer product waste, notably plastic. The Unscented Co. offers solid items to reduce plastic waste.

Anie partnered with Whole Foods to bring her brand to the US after a successful launch in Canada Baléco sold more in Canada despite the COVID-19 epidemic Anie Rouleau's fragrance-free, eco-friendly products have revolutionized the consumer goods market She sets a standard for health-conscious and ecofriendly products by considering scent sensitivity and sustainability Rouleau's entrepreneurial experience motivates organizations to address market needs while considering consumer and environmental welfare

To learn more about the products of this brand, browse through their official website https://unscentedco.com/

The month of July for CanadianSME Magazine is about celebrating exceptional business leaders who drive innovation and inspire us with their resilience and foresight From AI in law with Benjamin Alarie to empowering working mothers with Allison Venditti and pioneering fragrance-free products with Anie Rouleau, these leaders have made a remarkable impact Delve into their inspiring stories and gain valuable insights that will empower and motivate entrepreneurs and dreamers alike

CanadianSME, a magazine for small and medium-sized businesses, is great for companies that appreciate innovation By subscribing to our magazine, readers can acquire an array of information and market trends. Follow @Canadian_sme on Twitter to stay connected with the CanadianSME community, which values business and entrepreneurship Visit https://lnkd.in/dbqmSKN to subscribe to CanadianSME's magazine and stay current on business trends

UnlockingGrowth:

The Ultimate Guide to Funding Opportunities for Small Businesses in Canada

Access to funding is crucial for driving growth and achieving entrepreneurial visions in the ever-changing landscape of Canadian small businesses In the July edition of CanadianSME Small Business Magazine, we are excited to present valuable resources for ambitious business owners and aspiring entrepreneurs This comprehensive guide provides information on funding opportunities specifically tailored for small businesses in Canada

This guide provides a comprehensive overview of various financing options available to support businesses at different stages of their journey It covers a range of options, including grants, loans, venture capital, and government programs Learn how to effectively navigate the funding landscape, accurately identify the most suitable opportunities that align with your specific needs, and enhance your chances of successfully securing financial support

Whether you are seeking to embark on a new venture or enhance your current business, this guide provides you with the necessary knowledge and tools to discover and capitalize on growth opportunities

Join us in this July edition of CanadianSME Small Business Magazine as we open the door to a world of funding possibilities, empowering small businesses across Canada to thrive and realize their full potential

EmpoweringSmallBusinesses:Navigating FundingSolutionsinCanada'sDiverseLandscape

In the pursuit of fostering inclusivity and reconciliation, Futurpreneur recognizes and pays tribute to the ancestral territories of First Nations, Métis, and Inuit peoples across Canada With over 600 First Nations Communities, 53 Inuit communities within four Inuit Nunangat regions, as well as Métis Nations, settlements, and regions, the diversity of Indigenous peoples and communities is vast Futurpreneur acknowledges the significance of Treaties 1-11, 25 modern treaties, and unceded territories, respecting the deeprooted historical and ongoing connection Indigenous peoples hold with the land

Committed to collaboration and respect, Futurpreneur strives to practice reconciliation in everyday lives, communities, and workplaces. Aspiring entrepreneurs are encouraged to actively engage in learning the local Indigenous history of their residing land, creating an inclusive and supportive environment for all Together, let us empower small businesses and navigate funding solutions in Canada's richly diverse landscape

You can learn more by visiting this link www.futurpreneur.ca/en/

OntarioSmallBusinessFundingOptions: HarnessingBusinessPotential

The Ontario Chamber of Commerce (OCC) helps companies develop and expand. Business owners benefit from OCC initiatives Businesses may use the Discover Ability Network to promote diversity and use disabled workers skills Export and trade events let firms engage with foreign governments and trade delegations The Grow Your Business Online grant is part of the Canada Digital Adoption Program This initiative provides $2,400 micro-grants to small businesses to improve their internet presence Ecommerce consultants help identify digital requirements, find resources, and apply

The Talent Opportunities Program offers pay subsidies of up to 50% (up to $5,000) for each 'net new ' placement or up to 70% (up to $7,000) for under-represented groups to encourage firms to recruit post-secondary students The Discover Ability Network helps companies understand the Accessibility for Ontarians with Disabilities Act and establish an inclusive workforce These financing alternatives help Ontario small companies reach their potential, embrace digital change, and develop diverse and vibrant teams.

If you’re looking to know more about this option, log onto occ.ca/programs

AccessingFundingThroughtheCanada SmallBusinessFinancingProgramto StrengthenSmallBusinesses

The Canada Small Business Financing Program (CSBFP) provides a practical solution for small businesses in need of loans by sharing the risk with financial institutions In the past ten years, a total of $10 billion has been granted through the CSBFP loan program to support small businesses in Canada This amounts to over 53,000 loans provided to entrepreneurs across the country Businesses that are eligible for this program include startups and small businesses with gross annual revenues of $10 million or less However, it's important to note that farming businesses have a separate program available for them

The CSBFP offers various financing options, such as term loans and lines of credit, with a maximum loan amount of $1 15 million Term loans are versatile financing options that can be utilized for a range of expenses These include purchasing land or buildings, acquiring equipment, making leasehold improvements, investing in intangible assets, and covering working capital expenses. Lines of credit are specifically designed to provide funding for working capital expenses.

Businesses should contact a Canadian bank, caisse populaire, or credit union finance officer for a loan Financial officers evaluate company proposals and approve loans The financial institution will release cash and register the loan with Innovation, Science, and Economic Development Canada (ISED) after approval Financial institutions set term loan interest rates, which may be variable or fixed, with a maximum rate Lines of credit might charge up to the lender's prime lending rate + 5% The loan includes a 2% registration charge

Depending on the funding, real estate, equipment, and other company assets may be used as collateral Lenders might also seek an unsecured personal guarantee Small businesses can receive money for growth and objectives via the CSBFP.

To understand better the eligibility and process of applying, browse more information at ised-isde.canada.ca/site/canada-smallbusiness-financing-program/en. CanadianSME, a magazine for small and medium-sized businesses, is great for companies that appreciate innovation. By subscribing to our magazine, readers can acquire an array of information and market trends. Follow @Canadian_sme on Twitter to stay connected with the CanadianSME community, which values business and entrepreneurship Visit lnkd.in/dbqmSKN to subscribe to CanadianSME's magazine and stay current on business trends

In the current digital era, retailers need to adjust their strategies to align with evolving consumer preferences and behaviours Omnichannel commerce is a revolutionary strategy that effectively combines various touchpoints to provide a unified and tailored customer experience Retailers can capitalize on the growing market and create long-term customer loyalty by understanding the importance of omnichannel strategies This article delves into the concept of omnichannel commerce, discussing the transition from multichannel to omnichannel retailing It also highlights the importance of personalization and identifies key trends that will help brands stay competitive in 2023

The Emergence of Omnichannel Commerce

Omnichannel commerce extends beyond individual retail channels and emphasizes delivering a comprehensive consumer journey It includes a variety of touchpoints, such as online, in-store, and mobile, to ensure a consistent and interconnected brand experience Based on market research, it is projected that the global market for retail omnichannel commerce platforms will reach a value of US$14 5 billion by the year 2027 The adoption of omnichannel strategies has been significantly accelerated by the COVID-19 crisis, resulting in a market estimated to be worth US$5 billion Brands can gain a competitive edge, meet consumer expectations, and foster long-term customer loyalty by embracing omnichannel strategies

Transitioning from Multichannel to Omnichannel Retailing

The retail industry has experienced a shift from multichannel to omnichannel retailing Multichannel retailing involves the use of multiple channels to sell products, but it often lacks integration and a cohesive marketing strategy In contrast, omnichannel retailing offers a cohesive and smooth experience across all points of contact The evolution of omnichannel retailing has been greatly influenced by technological advancements, especially in digital technology The shopping habits of consumers have undergone a transformation, requiring brands to adjust in order to meet their expectations for a smooth transition between online and offline stores

Personalization in Omnichannel Commerce

In today's age of personalized experiences, consumers have high expectations for brands to not only understand their preferences but also provide customized interactions Omnichannel commerce empowers retailers to offer personalized recommendations, customized rewards programs, and individualized experiences across various channels Brands can enhance customer loyalty and boost sales by utilizing data and consumer insights to create captivating customer journeys Personalization goes beyond just product recommendations and marketing campaigns It includes aspects such as website design, navigation, tone of voice in communication, and customer service interactions In the competitive marketplace, retailers who prioritize personalization will thrive

Here are some key omnichannel trends to look out for in 2023:

In order to remain competitive and effectively address the changing needs of customers, retailers should consider embracing the following omnichannel trends:

Adopting Innovation: Embracing new advancements and agile strategies allows retailers to respond quickly to customer needs Leveraging data for personalization and creating seamless experiences throughout the customer journey is essential for success

Improved Personalization: Personalized content and targeted marketing campaigns enhance customer engagement Retailers must focus on tailoring their offerings based on individual preferences and purchase history to create meaningful connections.

Enhancing Social Integration: Social media channels are vital for an integrated omnichannel strategy Brands should reflect their personality consistently across social media, digital ads, packaging, and in-store displays Timely responses and streamlined customer experiences on social media platforms can boost sales and loyalty

Prompt and Efficient Payment Checkouts: Online shopping is on the rise, and businesses must provide a seamless checkout process accessible through multiple channels Simplifying the customer experience and ensuring efficient payments contribute to customer satisfaction and conversion rates

Expert Customer Service 24/7: Customer service has shifted from reactive to proactive, with customers seeking assistance across various channels. Brands should offer round-the-clock support through social media, chatbots, phone calls, and more to address customer issues promptly and build trust

In 2023, retailers have found omnichannel commerce to be an essential requirement Brands can gain a competitive advantage and foster longterm customer loyalty by embracing omnichannel strategies, which allow them to create a seamless customer experience across multiple touchpoints The transition from multichannel to omnichannel retailing, combined with personalized strategies, allows retailers to respond effectively to evolving consumer behaviors and preferences Retailers can position themselves for success in an interconnected retail landscape by staying updated on important omnichannel trends and effectively utilizing technology

CanadianSME, a magazine for small and medium-sized businesses, is great for companies that appreciate innovation. By subscribing to our magazine, readers can acquire an array of information and market trends Follow @Canadian_sme on Twitter to stay connected with the CanadianSME community, which values business and entrepreneurship Visit lnkd.in/dbqmSKN to subscribe to CanadianSME's magazine and stay current on business trends

Cloud Computing for Small and Medium-Sized Businesses: The Secret of Growth Potential

In the contemporary dynamic business perspective, small and medium-sized enterprises (SMEs) necessitate adaptable and effective strategies in order to maintain competitiveness Cloud computing provides small and medium-sized enterprises (SMEs) with a variety of advantages, including improved collaboration and effortless data accessibility, as well as cost-effectiveness and scalability Nevertheless, this technology also entails certain factors that need to be taken into account, including concerns regarding security and limitations in terms of customization This article aims to examine the realm of cloud computing, encompassing its operational aspects, fundamental cloud services tailored for small and medium-sized enterprises (SMEs), as well as the merits it offers to small-scale enterprises

provided by cloud computing is the capability to retrieve data and utilize applications from any geographical location, as long as there is an internet connection available

The Primary Applications of Cloud Computing

Cloud computing has become an essential component of our digital existence, providing the necessary infrastructure for the operation of various services that we rely on in our daily activities This technology facilitates the integration of efficient data storage, backup, and hosting solutions, thereby streamlining business operations and augmenting productivity The following are several prevalent applications of cloud computing:

The Comprehension of Cloud Computing

Cloud computing is a paradigm that facilitates the provision of computing services via the Internet, allowing users to access these services as and when required The scope of this domain is extensive, encompassing a diverse array of services such as applications, data storage, and processing Cloud computing offers businesses the advantage of paying solely for the particular services and applications they utilize, thereby facilitating cost optimization and providing the ability to scale operations in a flexible manner One of the primary benefits

Cloud storage services offer a secure and remote storage solution that enables convenient accessibility and file sharing across various internetconnected devices. Commonly utilized choices encompass Dropbox, Microsoft OneDrive, and Google Drive. These services provide dependable synchronization and collaboration capabilities, thereby optimizing workflow efficiency.

Cloud backup services serve as reliable solutions for safeguarding data in the event of server failures, cyber assaults, or other instances of data loss These services integrate storage, synchronization, restoration, and robust security features In addition to their primary cloud storage services, numerous providers offer backup capabilities

Cloud hosting services are designed to meet a range of information-sharing requirements, including email services, application hosting, and web-based phone systems. By utilizing cloud hosting services, businesses have the ability to effectively expand their infrastructure in order to accommodate high levels of demand The efficiency and cost-effectiveness of website hosting, database management, and domain name handling are enhanced

Software as a Service (SaaS) refers to the delivery of cloud-based applications to users, offering a convenient and scalable solution for various operational domains For instance, the utilization of Software-as-a-Service (SaaS) Customer Relationship Management (CRM) software such as Salesforce facilitates efficient sales management, whereas platforms like QuickBooks Online streamline the process of financial management The utilization of Software-as-a-Service (SaaS) email marketing software has been found to improve communication and marketing endeavours significantly

Benefits of Cloud Computing for SMEs

Cloud computing provides a multitude of advantages for small and medium-sized enterprises (SMEs);

One of the benefits of cloud computing is its potential for cost savings Unlike traditional computing models that require businesses to invest in expensive infrastructure, cloud computing allows businesses to pay only for the specific services they utilize This enables small and medium-sized enterprises (SMEs) to optimize resource allocation and reduce operational costs

The scalability and flexibility of cloud services enable seamless adjustments in resource allocation to align with the evolving demands of businesses Small and mediumsized enterprises (SMEs) possess the ability to respond effectively to evolving demands without encountering the challenges associated with hardware upgrades or system migrations

Cloud computing enables efficient collaboration among team members, irrespective of their geographical proximity, by providing seamless remote access The technology facilitates the instantaneous exchange of documents, allowing for collaborative editing and efficient management of different versions, thereby enhancing productivity and fostering effective teamwork.

Cloud computing offers small and medium-sized enterprises (SMEs) a variety of robust tools and solutions that can help them enhance their growth and operational efficiency

Small businesses can benefit from using cloud services such as storage, backup, hosting, and SaaS applications These services offer improved collaboration, cost savings, and flexibility However, businesses need to thoroughly assess security measures, take customization needs into account, and guarantee a dependable internet connection By effectively strategizing and executing cloud technologies, small and medium-sized enterprises (SMEs) can harness substantial opportunities, empowering them to flourish in the current digital era

CanadianSME, a magazine for small and medium-sized businesses, is great for companies that appreciate innovation. By subscribing to our magazine, readers can acquire an array of information and market trends Follow @Canadian_sme on Twitter to stay connected with the CanadianSME community, which values business and entrepreneurship Visit

lnkd.in/dbqmSKN to subscribe to CanadianSME's magazine and stay current on business trends

Driving Innovation

and Social Impact

Business Woman Of The Month Anna Sainsbury

In the world of technology and cybersecurity, one name stands out for her remarkable leadership and commitment to social impact And it is none other than Anna Sainsbury, the CEO and Co-Founder of GeoComply, a leading provider of fraud prevention and geolocation solutions With a diverse range of skills and a passion for advocating gender equality and combating digital child exploitation, Anna has propelled GeoComply to new heights while making a positive difference in the world

In fact, Anna Sainsbury's remarkable achievements and entrepreneurial spirit have earned her the title of Business Woman Of The Month in the prestigious July Edition of CanadianSME Small Business Magazine. This recognition further highlights her exceptional leadership and the significant impact she has made in the business community Anna's dedication to driving innovation, fostering diversity and inclusion, and spearheading

social responsibility initiatives has positioned her as a role model for aspiring entrepreneurs seeking to make a meaningful difference in their respective industries Anna's story serves as an inspiration to all, showcasing the power of determination, innovation, and social consciousness in building successful ventures

Pioneering Innovation and Recognition: A Journey of Success

Under Anna Sainsbury's guidance, GeoComply has become a trailblazer in the field of geolocation compliance and fraud prevention The company ' s software, installed on over 400 million devices worldwide, analyzes billions of transactions each year Their impressive client roster includes renowned names such as Amazon Prime Video, BBC, DraftKings, and MGM Resorts Anna's vision and dedication have garnered recognition, with prestigious awards like the American Executive of the Year at the Global Gaming Awards in 2020 and 2021

CEO and Co-Founder of GeoComply

A Force for Social Change

Beyond leading GeoComply to success, Anna Sainsbury is deeply committed to using her influence for the betterment of society As a Member of the Chief, a private network empowering women in leadership positions, she actively advocates for gender equality in the workplace Moreover, through GeoComply's CSR division impact, Anna focuses on addressing challenging issues affecting women and children, such as digital child exploitation Her involvement in organizations like Conscious Gaming and the American Gaming Association demonstrates her dedication to driving change and developing innovative tools for responsible gaming

Driving Geolocation Compliance and Social Responsibility

As Chairman of GeoComply, Anna is currently spearheading the development of reliable geolocation solutions for the expanding compliance and geofence markets GeoComply's expertise extends beyond iGaming, providing geolocation fraud detection solutions for various industries, including streaming video broadcasters, online banking, payments, and cryptocurrency The companys recent achievements, such as becoming the approved geolocation and fraudprevention solution for Maryland sports betting operators and obtaining a conditional license in Ohio, showcase its industry leadership and commitment to responsible business practices

Anna Sainsbury's journey as the CEO and Co-Founder of GeoComply is a shining example of her outstanding leadership, innovative spirit, and dedication to making a positive difference in society. With its visionary approach, GeoComply has successfully revolutionized fraud prevention and geolocation compliance, gaining recognition and trust from industry giants. Besides, Anna's unwavering commitment to advocating for gender equality, combating digital child exploitation, and driving responsible gaming showcases her dedication to making a positive difference in society. Under the leadership of Anna Sainsbury, GeoComply consistently strives to push boundaries, drive innovation, and ignite change in the fields of technology and cybersecurity.

To learn more about her company and the initiatives associated with it, log onto www.geocomply.com

CanadianSME, a magazine for small and medium-sized businesses, is great for companies that appreciate innovation By subscribing to our magazine, readers can acquire an array of information and market trends Follow @Canadian sme on Twitter to stay connected with the CanadianSME community, which values business and entrepreneurship Visit lnkd.in/dbqmSKN to subscribe to CanadianSME's magazine and stay current on business trends

The Journey of Successful Canadian Startups:

In the ever-evolving landscape of Canadian startups, success stories emerge from the dedication, innovation, and entrepreneurial spirit of visionary individuals As we delve into the July edition of CanadianSME magazine, we spotlight three exceptional Canadian startups that have made significant strides in their respective industries These businesses serve as inspiring examples, showcasing the immense potential and growth opportunities within the Canadian startup ecosystem

In this edition, we explore the unique journeys of these startups, highlighting their achievements, challenges, and the strategies that propelled them to success. Each business represents a different sector, demonstrating the diversity and ingenuity of the Canadian startup scene From tech-driven solutions to sustainable ventures and disruptive business models, these startups have overcome obstacles, harnessed innovation, and captured the attention of the market

Join us as we celebrate the remarkable accomplishments of these Canadian startups and gain valuable insights into the strategies that propelled their growth Get ready to be inspired by their stories of perseverance, adaptability, and entrepreneurial excellence in the July edition of CanadianSME magazine

Here are the businesses that we have chosen after much deliberation:

Vivid Machine's Innovative Vision Technology Transforms Fruit Production

In November 2020, Toronto-based Vivid Machine began changing fruit production and the supply chain Their cutting-edge vision technology helps fruit producers optimize food output on current land and gives packhouses, marketers, and merchants early yield projections Vivid Machine's success comes from its spectrum sensor and computer vision technology, which helps fruit farmers comprehend each tree This technique helps producers enhance fruit volume Vivid X-Vision easily mounts onto agricultural equipment and captures plant-level data under the canopy Data is collected throughout agricultural operations to minimize producers' interruption

Jenny Lemieux and Jonathan Binas met in the initial Canadian Entrepreneur First cohort and created the firm. Jenny's agricultural upbringing gives her intimate knowledge of fruit farmers' issues, while Jonathan's family's organic food company experience complements the team's They solved a worldwide agricultural issue with an innovative answer Vivid Machine's dedication to innovation positions them to revolutionize fruit production The company ' s vision technology and founders' experience are advancing the industry, optimizing resource use, and creating a more sustainable and productive fruit production future

Check out their website to learn more about their operations and services at foodandfarming.ca/vivid-machines

UpBeing: Empowering Users to Prioritize Their Human Experience

In today's technology-driven world, the goals of modern technology often diverge from our own as humans Instead of enabling us to make choices that enhance our human experience, technology often becomes a source of addiction, drawing us into an algorithmic loop that keeps us glued to our devices Recognizing this misalignment, UpBeing emerges as a solution that aims to empower individuals and provide unparalleled insights into the

intricate relationship between their behaviours and emotions Cofounders Sean Kortschot and Sam Daviau have launched UpBeing, which measures emotion using behavioural data to improve the human experience.

UpBeing uses passive data from ecalendars, Spotify, wearables, spending patterns and short, research-based emotional checkins This combination gives individuals exceptional knowledge of the underlying links between their behaviours and emotions UpBeing analyzes various data streams to provide useful insights into how behaviours affect emotional wellbeing

Similar to the concept of Captcha, UpBeing harnesses the power of crowdsourcing to train its pioneering behaviour-to-emotion machine learning (ML) classification engine. As this exclusive dataset and ML engine expand, they might reshape the $19 billion Emotion Detection and Recognition Industry UpBeing is leading a new age by combining powerful technology with humancentric aims, allowing consumers to choose the human experience above mindless digital consumption

UpBeing's user-centric approach and cutting-edge ML capabilities help us recover our digital agency The platform empowers users to improve their well-being and technology connection by offering deep insights into their behaviours and emotions UpBeing will give users authority and redefine the human-technology connection

For more information about the business, log onto www.upbeing.ai

Green Beaver: A Natural Journey Towards Safe and Sustainable Products

Green Beaver, founded in 2002, emerged from a shared vision to provide consumers with accessible, natural, and safe products. Karen Clark and Alain Ménard, biochemists and microbiologists, joined forces to offer an alternative to the plethora of chemical-laden products flooding the market Driven by their deep-rooted expertise and a commitment to addressing the dangers of harmful ingredients, Green Beaver has become a beloved brand dedicated to nurturing both our skin and the environment

Inspired by personal experiences, including Alain's sister's breast cancer diagnosis and the birth of their son, Karen, Alain recognized the possibility of a natural approach Thus, they channeled their expertise into formulating an all-natural product line, birthing the beloved Green Beaver brand As a company, Green Beaver values loyalty, rigor, and reliability, which permeate every aspect of its daily operations

Community care lies at the heart of Green Beaver's ethos All their products are exclusively designed, developed, and tested in Canada The brand places great emphasis on carefully selected ingredients, with a preference for locally sourced organic materials By prioritizing safe and sustainable ingredients, Green Beaver leverages its expertise and ongoing research to create reliable products that consumers can trust.

To learn more about their services, visit greenbeaver.com

These emerging businesses represent the best of Canadian businesses by blending creativity, hard work, and a deep commitment to their mission Their achievements inspire others in the startup ecosystem and beyond to flourish and make a difference These success stories demonstrate the great potential and possibilities that await ambitious entrepreneurs as the Canadian startup scene evolves

CanadianSME, a magazine for small and medium-sized businesses, is great for companies that appreciate innovation By subscribing to our magazine, readers can acquire an array of information and market trends Follow @Canadian sme on Twitter to stay connected with the CanadianSME community, which values business and entrepreneurship Visit lnkd.in/dbqmSKN to subscribe to CanadianSME's magazine and stay current on business trends.

Assessing Future Viability Is a Business Restart Possible?

The cold, hard facts about business restarts

By:Tommy MOnich

In the field of corporate renewal two terms are used interchangeably, turnaround and restart Often these are thought of as synonyms Both are similar in the sense that they require a reversal of fortune

The underlying concepts however are vastly different A turnaround is a transformation tragically delayed A restart is a resurrection It is important for the business owner to recognize the implications of this distinction If they do not any attempt at recovery may fail

The turnaround is metamorphosis delayed and may require a wrenching and intense period of change It will occur in an organization that still has life A revenue stream still exists, and the company ’ s doors are not closed

Clients still purchase its products or services Suppliers continue to support the company in some manner The company possesses an infrastructure that may include hard assets, personnel, an accounting function, MIS, distribution and marketing

It also has some notion of future revenue potential and possible profits from this revenue

A company in need of a restart requires a much more dramatic change, it actually needs resuscitation This is the result of a catastrophic failure that has been caused by grievous error or misfortune The effects of many errors may have piled up over time, or a few disastrous may have precipitated a rapid decline

The doors of the organization may be shut Infrastructure will certainly be impaired Often, many legacy issues have accruedrepresenting a significant burden and challenge to revival

In both of these situations, the same characteristics are required for corporate renewal These are competent management, a viable core product or service, and sufficient capital to execute a reversal of fortune

The probability of success however differs We can assess this probability on the basis of two factors the difficulty of restoring health and the resources required to do so

Both difficulty and required resources increase dramatically from turnaround to restart

While one might expect it would be easy to identify the restart, not all cases are obvious. The key question is has it slid down a continuum, dramatically increasing the difficulty of recovery and necessary resources

For example, a few years ago I was asked to take a quick look at a company The client produced industrial and commercial windows and sold both to end users and contractors

A simple liquidity review showed the aging of both Accounts Receivable (AR) and Accounts Payable (AP) Both of these were aging with an increase in accounts over 60 days

Of special interest was the fact that most of the accounts on the A/R report were aging identically The companies operating line had also been fully used for many months

Core Product

The product produced by the company was viable in its market niche The company was also capable of producing the product at an acceptable margin

Although these receivables appeared to be from different entities, in fact they all originated from a single parent company. In total they represented about 85% of revenue. The parent company was in fact insolvent

These facts had been concealed from the secured lender

Financial Resources Management

This was clearly a company facing catastrophic failure A perfect example of possible restart It that context I quickly evaluated the situation in light of the parameters necessary for success

Management

This is the most important criteria for any turnaround or restart The manager or CEO is the leader of any recovery, the architect of strategy and catalyst for change

In this case management had clearly not been competent and had been deceptive to its stakeholders The current condition of the company did not appeal to a new manager

A restart would have required enormous resources This company needed to be completely revamped with new management in place Huge operating losses and an eroded asset base impaired any ability to raise new capital

Obtaining fresh capital was very unlikely and the decision was made to file for Bankruptcy

The terms turnaround and business restart are often thought to be synonyms Certainly they both lie within the purview of corporate renewal.

Both models require the same parameters for success: management, a viable core, and financial resources.

It is not always easy to differentiate between a turnaround and a restart. Before any attempt at renewal stakeholder must define the business model and determine whether or not it is possible to meet the parameters for success

If this is not the case then the renewal process should not begin

Canada's Position in the Fast-Paced Digital World: Insights from Gorve Rekhi

In a recent interview with CanadianSME, Gorve Rekhi from Siemens Canada cast a spotlight on Canada's place in the quickly progressing digital global landscape and areas where Canadian businesses can strengthen their stance He emphasized the crucial role of tech investments and digitalization for Canadian SMEs in boosting their competitiveness and prospects for long-term growth Gorve also expounded on the various contemporary interoperable and collaborative solutions that help SMEs harness the benefits of technology without incurring massive costs Using examples from Siemens' own success stories, he illustrated how Canadian SMEs can significantly enhance operational efficiency. He touched upon creating a conducive environment for digitalization, and suggested resources and best practices to aid SMEs' digital transformation journey. Finally, Gorve highlighted forthcoming trends and challenges, and how SMEs can equip themselves to stay competitive in this evolving digital era.

Gorve Rekhi is a dedicated and results-driven Business Developer at Siemens Canada with a background in Electrical Engineering Gorve’s mission is to help Canadian manufacturers and producers succeed in tackling their growing business challenges by using digital technologies

With a knack for identifying new opportunities and a passion for innovative technology, Gorve excels at forging valuable partnerships for the Siemens Xcelerator ecosystem, enabling enterprises to find the solutions or services they need for their digital transformation on a trusted platform backed by Siemens As a strategic advisor, Gorve stays ahead of industry trends and is poised to make a lasting impact in Canadian manufacturing.

The global market is experiencing rapid digitalization. How do you see Canada's position in this digital transformation, and what are some key areas where Canadian businesses can improve?

Canada is at risk of falling behind global competition in adopting digital technologies as it ranks low in technology adoption and innovation in manufacturing compared to other advanced economies There are many manufacturers in Canada that have not explored or are in their infancy of digital transformation

Much of this can be attributed to the shortage of skilled workers, high-cost and complex solutions, and a lack of awareness on what is possible Businesses would benefit by exploring what is available to understand how technology can help their business and the requirements for implementing it This can be achieved by connecting with a reputable ecosystem - learning best practices from and collaborating with other businesses, or by visiting demo centres where technology providers display their solutions and give an opportunity to prospective users to test

Business Developer, Digital Enterprise, Siemens Canada

In your view, why is it crucial for Canadian SMEs to invest in technology and embrace digitalization in their operations and processes? How can technology adoption enhance their competitiveness and longterm growth prospects?

It is crucial for Canadian SMEs to adopt digitalization because of the business pressures that they face today, and the pressures they will face in the future These business pressures include product innovation, sustainability, and supply chain uncertainty

Digitalization makes businesses more resilient to changing factors, like supply chain disruptions by forecasting demand, automating material ordering, and bringing intelligence to supplier selection Technology also helps businesses do more with less – test designs and/or manufacturing processes without multiple physical prototypes by simulating the asset virtually

NX X – Software to design products and feed instructions to manufacturing processes including CNCs, robots, 3D printers, etc.

https://trials.sw.siemens.com/en-US/trials/nx-xonline-cad\

Insights Hub – Cloud offering delivering ready to use applications to monitor and improve performance of machines and operations

https://plm sw siemens com/en-US/insights-hub/

Siemens has been actively supporting digital transformation initiatives in various sectors. Could you share some success stories or examples of how Siemens has helped Canadian SMEs embrace technology and achieve operational efficiency?

Can you elaborate on the types of interoperable, open, à la carte, and collaborative solutions that are available to SMEs today? How can these solutions help SMEs leverage technology without incurring significant costs or disruptions?

Several Siemens solutions have evolved for the purpose of making digital technologies easy to adopt and scale without incurring significant cost and/or disruptions Companies pick exactly the functionality they want, the solutions are easily deployed into their existing infrastructure without the need of a specialist, they can test the value and eventually scale once the technology is proven, and there is minimal or no capital expenditure because these solutions are provided as-a-service

Below are examples of such offerings:

Teamcenter X – PLM for taking control of product data and processes

(https://marketplace siemens com/global/en /all-offerings/products/t/teamcenter-x html)

Siemens has supported numerous Canadian SMEs in adopting digital technology with immediate impact One such case is Ontario-based automation systems integrator, Ethos Automation In collaboration with the dedicated team at Longterm Technology Services (a Siemens Digital Industries Software Expert Partner), Ethos adopted and trained their users on our comprehensive process simulation solution, Tecnomatix Process Simulate, which helped them reduce robot programming time by 25% and program debugging time by 20%. With this cuttingedge solution in hand, Ethos realized a return-oninvestment (ROI) within three months and was later named one of Canada’s 10 top-growing companies

One way we support SME adoption of technologies is through proof-of-concept (PoC) tests. We strategically select small scale projects to prove the value, and support with scaling up once the solution has proven to be valuable Siemens often supports by loaning the technology needed to test the solution so that the SME does not need to incur the upfront costs of getting the PoC started

Siemens is very proud to have partnered with the Government of Quebec to help create four Industrial Experience Centers in the province These Centers play a fundamental role in connecting SMEs that are looking to initiate or accelerate their digital transformation with the technology and experts who can help develop custom digital strategies On display at each Center includes our Digital Twin and IIoT technology

https://www quebecinternational ca/fr/nouvelles/la ncement-de-la-vitrine-technologique-et-dulaboratoire-de-robotique-collaborative-mobile-etavancee-dans-la-region

Besides investing in technology, what other factors should Canadian SMEs consider to create an environment conducive to successful digitalization? Are there any best practices or resources available to support SMEs in their digital transformation journey?

To create an environment conducive to successful digitalization, SMEs must continuously upskill their workforce to be comfortable with using these new technologies Digital Twins, VR, IIoT, are all entering our manufacturing spaces as we build towards the industrial metaverse Advancement can sometimes be hindered due to a lack of familiarity and the unknown Demystifying, for example, what Digital Twins and Artificial Intelligence can do will ease the adoption and expand the use

Looking ahead, what do you foresee as the next big trends or challenges for Canadian SMEs in terms of digitalization, and how can they prepare themselves to stay competitive in an evolving market?

There is a lot of noise in this space –digitalization is, to no one ’ s surprise, one of the most talked about topics in the industry Many organizations have yet to construct a roadmap To do so, you must understand your problem statements before looking at solutions However, the landscape is growing every day and the sheer number of options available may seem overwhelming This is where having the right partner can be invaluable as they guide your through the sea of options to help you select the right solutions or services

This is one of the key motivations for Siemens Xcelerator – to create a partner ecosystem that is solving end user issues, whether the solution used is from Siemens or one of our partners All the solutions and services, including those of partners, have been thoroughly vetted by Siemens and are intentionally placed on the platform, filtering out the noise.

https://marketplace.siemens.com/global/en.ht ml